Wakefield Health confirms new bid for Norfolk
Norfolk Investments owns 60% of Tauranga's Grace Hospital.
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Wakefield Health (NZSX: WFD) has made an offer for a full takeover of Norfolk Investments, which owns a 60% stake in Tauranga's Grace Hospital.
Following its failed bid to buy Norfolk last year, Wakefield upped its offer to $3.80 per share, valueing Norfolk at $24.23 million.
The new offer will be open for a 30 day period, unless extended in accordance with the Takeovers Code.
It is subject to a number of conditions, including that Wakefield receives acceptances for Norfolk shares representing more than 50% of the voting rights, and that the businesses of Norfolk and of the Grace Hospital continue to be carried out in the ordinary course.
If the minimum acceptance condition is satisfied and the offer is not withdrawn or otherwise lapses, Wakefield has agreed that it will declare the offer unconditional by August 18.
NBR staff
Wed, 20 Jul 2011
Wed, 20 Jul 2011
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Wakefield Health confirms new bid for Norfolk
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