In today’s briefing:
- Volpara Health/Lunit: Bosom Buddies
- Volpara Health (VHT AU): Lunit’s Binding A$1.15 Offer
Volpara Health/Lunit: Bosom Buddies
- Volpara Health (VHT AU), which makes software enabling the early detection of breast cancer, has announced it has entered into a Scheme Implementation Deed with South Korea’s Lunit (328130 KS).
- Lunit is offering Volpara shareholders A$1.15/share, in cash, a 47.4% premium to last close. Cornerstone investors with 25.92% of shares out are supportive. As is Volpara’s board.
- The Scheme Meeting is expected to be held in 2Q24. The transaction requires NZ’s OIO approval.
Volpara Health (VHT AU): Lunit’s Binding A$1.15 Offer
- Volpara Health Technologies (VHT AU) has entered a scheme implementation deed with Lunit (328130 KS) at A$1.15 per share, a 48.4% premium to the undisturbed price of A$0.775 (13 December).
- The offer is subject to several conditions, such as shareholder and OIO approval. Irrevocables and directors represent 33.30% of outstanding shares.
- Barring a competing offer, this is a done deal, as the offer is attractive. At the last close and for the end of May payment, the gross/annualised spread is 5.0%/11.6%.
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