Healthscope Says Bids Undervalue Company, Won't Open Books
Australian hospital operator Healthscope Ltd. said two competing takeover bids both undervalue the company and it won’t open its books to either suitor. Instead, Healthscope said Tuesday it was exploring whether to sell and lease back any of its 29 freehold properties, which have a book value of about A$1.3 billion ($986 million). Canada’s Brookfield Asset Management Inc. last week offered A$4.35 billion, or A$2.50 a share, in cash for Healthscope, topping a bid from private equity firm BGH Capital.