|Bid||2.35 x 0|
|Ask||2.39 x 0|
|Day's range||2.32 - 2.37|
|52-week range||1.61 - 2.59|
|PE ratio (TTM)||42.32|
|Earnings date||21 Aug. 2017 - 25 Aug. 2017|
|Forward dividend & yield||0.06 (2.59%)|
|1y target est||2.27|
When Australian hospital operator Healthscope complains of ‘soft conditions’, it does not mean that robust public health has pared back patient numbers. Australia is subject to the same ageing population trend as every other western country. Healthscope’s problem lies in costs, not revenue growth.
Shares in Australian private hospital operator Healthscope fell on Tuesday after it rejected competing takeover proposals from BGH Capital and Brookfield Asset Management, saying they undervalued the company. Healthscope said the board and its advisers believe the proposals, which value the company at more than $3bn, undervalue expected improved operating performance in 2019 and beyond, the value of its property portfolio and the contribution from its investment in the Northern Beaches Hospital. A consortium led by BGH offered $3.1bn to acquire the Melbourne-based hospital operator in April followed by rival a $3.3bn offer from Canada’s Brookfield last week.
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.