AustralianSuper to cash out of Healthscope’s $4.4b takeover

Brookfield’s $4.4 billion bid for Healthscope has received the crucial support of the private hospital operator’s largest shareholder, AustralianSuper, which said on Tuesday that it will cash out its 16 per cent stake rather than keep shares in the privatised group.

«AustralianSuper intends to vote for the scheme at the upcoming meeting in respect of the Healthscope shares that we hold, subject to there being no proposal that we consider superior prior to the vote,» said AustralianSuper’s chief investment officer, Mark Delaney, in a letter to Healthscope chairman Paula Dwyer on Tuesday.

«AustralianSuper intends to receive the cash consideration in respect of the Healthscope shares that we hold if the scheme is implemented,» Mr Delaney said in the letter which was released to the ASX.

AustralianSuper was part of a failed rival bid for the private hospital operator which was led by private equity group BGH Capital. Under that deal the super fund giant would have retained a stake in the privatised Healthscope.





You may also like...