Monash IVF Group Receives Sweetened Takeover Offer From Genesis, Soul Patts Consortium; Shares Climb 19%

MT Newswires Live
Apr 13

Monash IVF Group (ASX:MVF) received a revised, unsolicited, conditional, and non-binding indicative proposal from a consortium comprising Genesis Capital Investment Management and WHSP Holdings (ASX:SOL) to acquire all its shares by way of a scheme of arrangement at AU$0.90 per share, according to a Monday Australian bourse filing.

The consortium, which currently owns a 19.6% stake in Monash IVF, previously made an indicative proposal at AU$0.80 per share.

The company said the consortium described the offer price as the highest amount it is prepared to offer in the absence of a competing proposal, with the proposal valid until the close of business on April 21.

The proposal is subject to several conditions, including exclusive due diligence with no fiduciary exceptions, negotiation and execution of transaction documentation on customary terms, unanimous board recommendation, and final internal approval from consortium members.

The Monash IVF board is assessing the proposal with the assistance of financial adviser Macquarie Capital and legal adviser Clayton Utz, the filing added.

Monash IVF Group's shares surged 19% in recent Monday trade, while WHSP Holdings' shares shed 1%.

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