Canada’s Brookfield bids $4.35bn for Healthscope

By Thierry Boudan

It has been revealed that Canadian investment firm Brookfield Asset Management has submitted a AUD$4.35bn (USD$3.3bn) takeover offer for Melbourne-based medical firm Healthscope in the aim of expanding its regional portfolio.

The bid from Brookfield puts pressure on Australia’s BGH Capital, led by former executives of US-based TPG Capital, who made a AUD$4.1bn (USD$3.1bn) offer towards the end of April. This offer was made in partnership with pension fund manager AustraliaSuper that already holds a 14.5% stake in Healthscope.

See also:

With this in mind, Brookfield’s bid includes a condition that will prevent AustralianSuper from being able to vote for or against an acquisition from the Canadian firm, should the offer be accepted.

Off the back of the announcement, Healthscope’s shares rose 4.9% to a two-year high – a strong indication that investors are expecting a bidding war to materialise.

If successful, the deal will be the biggest acquisition made by a Canadian firm on Australian soil since the sale of Asciano in 2016, where the Australian logistics firm was bought by a consortium that heavily featured Brookfield.

Healthscope is being represented by UBS in negotiations, whilst Brookfield has appointed Bank of America Merrill Lynch.


Featured Articles

Top 10 female executives leading Japan's charge for change

As Japan pledges a 30% target for women executives at big firms by 2030, we spotlight 10 female corporate leaders blazing a trail in the country

Top 10 most valuable unicorns in China – phones to drones

Home to the world’s most valuable unicorn, not to mention the fastest growing, China may be trailing the US on numbers, but it is catching up – and fast

Top 10 fastest-growing energy companies in the APAC region

Business Chief takes a look at the top 10 fastest-growing energy companies in the APAC region, according to rankings from S&P Global Commodity Insights

Top 10 Chief Financial Officers in India

Corporate Finance

Top 10 largest companies Malaysia and the CEOs who helm them

Leadership & Strategy

5 high-profile CEO moves across Asia-Pacific this month

Leadership & Strategy