Global Healthcare Analyst

Tina Banerjee

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/monash-ivf-group-ltd" target="_blank" data-smartkarma-citation="entities:18130:1" rel="noopener">Monash IVF (MVF AU)</a> has received a revised proposal from the consortium comprising Genesis Capital Investment Management and WHSP Holdings to acquire 100% of the shares in the company.</li>
<li>The indicative cash price offered under the proposal is A$0.90/share, up from A$0.80/share earlier. The revised offer price represents the highest amount the consortium is prepared to offer.</li>
<li>The proposal is valid until April 21, 2026. The Monash IVF Board is assessing the proposal and has appointed financial and legal advisors.</li>
</ul>



Monash IVF (MVF AU) has received a revised proposal from the consortium comprising Genesis Capital Investment Management and WHSP Holdings to acquire 100% of the shares in the company.
The indicative cash price offered under the proposal is A$0.90/share, up from A$0.80/share earlier. The revised offer price represents the highest amount the consortium is prepared to offer.
The proposal is valid until April 21, 2026. The Monash IVF Board is assessing the proposal and has appointed financial and legal advisors.


Monash Ivf (MVF AU): Revised Takeover Offer Seems Fertile

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/monash-ivf-group-ltd" target="_blank" data-smartkarma-citation="entities:18130:1" rel="noopener">Monash IVF (MVF AU)</a> has disclosed a revised non-binding offer from Soul Patts and Genesis Capital at A$0.90 per share, a 12.5% premium to its previously rejected A$0.80 offer.</li>
<li>The revised offer is the highest amount in the absence of a competing offer. The proposal is valid until the close of business on 21 April.</li>
<li>The revised offer is fair and will go some way in addressing the Board’s rationale for rejecting the previous offer. The Board should engage.</li>
</ul>



Monash IVF (MVF AU) has disclosed a revised non-binding offer from Soul Patts and Genesis Capital at A$0.90 per share, a 12.5% premium to its previously rejected A$0.80 offer.
The revised offer is the highest amount in the absence of a competing offer. The proposal is valid until the close of business on 21 April.
The revised offer is fair and will go some way in addressing the Board’s rationale for rejecting the previous offer. The Board should engage.


Monash IVF (MVF AU): Soul Patts/Genesis Capital’s Revised A$0.90 Offer Warrants Engagement

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>Back on the 24th November <a href="https://www.smartkarma.com/entities/monash-ivf-group-ltd" target="_blank" data-smartkarma-citation="entities:18130:1" rel="noopener">Monash IVF (MVF AU)</a>, a fertility provider,  announced, and summarily rejected, a A$0.80/share non-binding indicative Offer from <a href="https://www.smartkarma.com/entities/washington-h-soul-pattinson-and-co-ltd" target="_blank" data-smartkarma-citation="entities:6054:1" rel="noopener">Soul Patts (SOL AU)</a> &amp; Genesis Capital.</li>
<li>Soul Patts &amp; Genesis have returned to the well with a A$0.90/share NBIO ("best &amp; final"). The indicative terms are a ~47% premium to undisturbed and 34% to last close.</li>
<li>Genesis/Soul Patts collectively hold 19.6% in MVF. Monash should engage.</li>
</ul>


Back on the 24th November Monash IVF (MVF AU), a fertility provider,  announced, and summarily rejected, a A$0.80/share non-binding indicative Offer from Soul Patts (SOL AU) &amp; Genesis Capital.
Soul Patts &amp; Genesis have returned to the well with a A$0.90/share NBIO ("best &amp; final"). The indicative terms are a ~47% premium to undisturbed and 34% to last close.
Genesis/Soul Patts collectively hold 19.6% in MVF. Monash should engage.


Soul Patts/Genesis Bump NBIO For Monash IVF (MVF AU)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/monash-ivf-group-ltd" target="_blank" data-smartkarma-citation="entities:18130:1" rel="noopener">Monash IVF (MVF AU)</a>, a fertility provider, has announced, and summarily rejected, a A$0.80/share non-binding indicative Offer from <a href="https://www.smartkarma.com/entities/washington-h-soul-pattinson-and-co-ltd" target="_blank" data-smartkarma-citation="entities:6054:1" rel="noopener">Washington H. Soul Pattinson and Co. Ltd (SOL AU)</a> &amp; Genesis Capital.</li>
<li>The indicative terms are a ~31% premium to last close. And ~7.7x FY25 EV/EBITDA. Chairman Richard Davis <a href="https://announcements.asx.com.au/asxpdf/20251124/pdf/06sd9nmj7g6yqg.pdf" target="_blank" rel="noopener">declared</a> terms "opportunistic in timing and materially undervalues the company". </li>
<li>Genesis/Soul Patts collectively hold 19.6% in MVF.  MVF's share price has cratered this year after a woman was mistakenly implanted with the wrong embryo. The CEO subsequently stepped down. </li>
</ul>



Monash IVF (MVF AU), a fertility provider, has announced, and summarily rejected, a A$0.80/share non-binding indicative Offer from Washington H. Soul Pattinson and Co. Ltd (SOL AU) &amp; Genesis Capital.
The indicative terms are a ~31% premium to last close. And ~7.7x FY25 EV/EBITDA. Chairman Richard Davis declared terms "opportunistic in timing and materially undervalues the company". 
Genesis/Soul Patts collectively hold 19.6% in MVF.  MVF's share price has cratered this year after a woman was mistakenly implanted with the wrong embryo. The CEO subsequently stepped down. 


Monash IVF (MVF AU) Rejects Soul Patts/Genesis' Offer

<ul>
<li>The <a href="https://www.afr.com/street-talk/pe-bidder-comes-calling-for-monash-ivf-amid-embryo-mix-up-debacle-20251123-p5nhpd" target="_blank" rel="noopener">AFR reports</a> that a mystery buyer, believed to be Genesis Capital, will launch a takeover proposal for <a href="https://www.smartkarma.com/entities/monash-ivf-group-ltd" target="_blank" data-smartkarma-citation="entities:18130:1" rel="noopener">Monash IVF (MVF AU)</a> at A$0.80, a 31.1% premium to the last close.</li>
<li>On Friday, the mystery buyer acquired a pre-bid stake of 6.01% of outstanding shares at A$0.80. The timing is opportunistic as the shares are down 51% YTD.</li>
<li>It is unclear whether Genesis is aiming to launch a scheme or an off-market takeover offer. Nevertheless, the rumoured offer is light. </li>
</ul>


The AFR reports that a mystery buyer, believed to be Genesis Capital, will launch a takeover proposal for Monash IVF (MVF AU) at A$0.80, a 31.1% premium to the last close.
On Friday, the mystery buyer acquired a pre-bid stake of 6.01% of outstanding shares at A$0.80. The timing is opportunistic as the shares are down 51% YTD.
It is unclear whether Genesis is aiming to launch a scheme or an off-market takeover offer. Nevertheless, the rumoured offer is light. 


Monash IVF (MVF AU): Genesis Capital to Launch a Takeover Proposal?

Australia

Monash IVF Group Ltd. is a fertility research and treatment center. The Company researches and develops reproduction supportive medications.

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Monash IVF (MVF AU)

Monash Ivf (MVF AU): Revised Takeover Offer Seems Fertile

Monash IVF received revised takeover proposal from Genesis consortium at A$0.90/share, 13% higher than the previous offer price. The proposal is...

Tina Banerjee

Monash IVF (MVF AU): Soul Patts/Genesis Capital’s Revised A$0.90 Offer Warrants Engagement

The revised offer is fair and will go some way in addressing the Board’s rationale for rejecting the previous offer. The Board should engage.

Arun George

Soul Patts/Genesis Bump NBIO For Monash IVF (MVF AU)

Trading ~17% adrift of the indicative terms. Monash should engage. I would be picking up shares here, and on any weakness.

David Blennerhassett

Monash IVF (MVF AU) Rejects Soul Patts/Genesis' Offer

Trading 10% through the indicative terms. Perhaps 8-9 turns of EBITDA may get board support. I think this needs a A$1+ handle, at a minimum, to...

David Blennerhassett

Monash IVF (MVF AU): Genesis Capital to Launch a Takeover Proposal?

The AFR reports that a mystery buyer, believed to be Genesis Capital, will launch a takeover proposal. The timing is opportunistic, and the...

Arun George

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Monash Ivf (MVF AU): Revised Takeover Offer Seems Fertile

​Monash IVF received revised takeover proposal from Genesis consortium at A$0.90/share, 13% higher than the previous offer price. The proposal is...

Tina Banerjee

Monash IVF (MVF AU): Soul Patts/Genesis Capital’s Revised A$0.90 Offer Warrants Engagement

The revised offer is fair and will go some way in addressing the Board’s rationale for rejecting the previous offer. The Board should engage.

Arun George

Soul Patts/Genesis Bump NBIO For Monash IVF (MVF AU)

Trading ~17% adrift of the indicative terms. Monash should engage. I would be picking up shares here, and on any weakness.

David Blennerhassett

Monash IVF (MVF AU) Rejects Soul Patts/Genesis' Offer

Trading 10% through the indicative terms. Perhaps 8-9 turns of EBITDA may get board support. I think this needs a A$1+ handle, at a minimum, to...

David Blennerhassett

Monash IVF (MVF AU): Genesis Capital to Launch a Takeover Proposal?

The AFR reports that a mystery buyer, believed to be Genesis Capital, will launch a takeover proposal. The timing is opportunistic, and the...

Arun George

Monash IVF received revised takeover proposal from Genesis consortium at A$0.90/share, 13% higher than the previous offer price. The proposal is...