Fertility company Virtus Health has been subject to a two horse bidding war for the past three months.Street Talk can reveal BGH is set to make the bid that would let it start buying stock from Wednesday at $8 a share.an $8.10-a-share offer from rival buyout firm CapVest, reduced to $7.98 a share post dividend, or $8.25 via a scheme of arrangement.
BGH’s previous offers, indicative bids at $7.10, $7.65 and $8.10 a share , were rebuffed by Virtus’ board, in favour of European rival CapVest. The bid valued Virtus Health at about $685 million on an equity value basis, or $850 million including debt.
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