Sullivan Reps Healthscope In $2.3B Buyout Offer

Law360, New York (July 19, 2010, 5:43 PM EDT) -- The board of directors of Healthscope Ltd., one of Australia's largest private health care operators, on Monday threw its weight behind a AU$2.7 billion ($2.3 billion) buyout proposed by the Carlyle Group and TPG Capital.

The company's board recommended that shareholders support the purchase, which values the company at AU$6.26 per share, a 39 percent premium from the AU$4.50 closing price on May 13 — the day after Healthscope received an indicative proposal, the company said.

A vote on the proposal will be held in October....
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