Private equity group Acromas has raised by 11 percent its offer for Nestor Healthcare to about 112.9 million pound ($179.3 million). Acromas, partly owned by funds advised by private equity firm Permira, is still undervaluing the British-based healthcare company, according to Nestor.
(Reuters) – Nestor Healthcare said private-equity group Acromas raised its offer by 11 percent, valuing the company at about 112.9 million pounds ($179.3 million), but the price continued to undervalue the company.
Acromas Holdings, partly owned by funds advised by Permira, CVC and Charterhouse Capital Partners, is now offering 100 pence for each Nestor share, up from its 90 pence approach in early August.
“The board believes that an offer of 100 pence per ordinary share would continue to undervalue the company, but intends to meet with Acromas,” the British healthcare staffing specialist said in a statement.
Nestor shares, which have gained 12 percent since the bid speculation, were up 3.9 percent at 94 pence at 0729 GMT on Thursday on the London Stock Exchange.
(Reporting by Aditi Samajpati in Bangalore; Editing by Vinu Pilakkott)