After an initial rejection of a buyout cash offer last month, Remgro put another three offers on the table and it seems Mediclinic is considering biting.A premium of 35% to the Mediclinic share price of 373 pence on 25 May 2022, the day before the initial offer;
The hospital group currently operates in Switzerland , southern Africa and the United Arab Emirates .unanimously rejected an unsolicited cash offer from Remgro and the Mediterranean Shipping Company The consortium has just under a month to make a firm offer by 5pm on 4 August, although if both parties agree, this deadline can be extended.
“We calculate the transaction would value Mediclinic at 11.1x trailing EV/Ebitda or 10x consensus FY23 estimates, reasonable, but certainly not a knockout valuation,” he says.