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Ramsay Health Care's biggest shareholder to support KKR-led offer

Reuters
Updated ·1 min read

HONG KONG, April 20 (Reuters) - The biggest shareholder of Australia's Ramsay Health Care (RHC), which holds an 18.8% stake in the company, said it would support a near-$15 billion offer from a group led by KKR & Co.

"Paul Ramsay Foundation (PRF) notes that the terms of the indicative offer would allow PRF the opportunity to retain an interest in the business built by its founder, Paul Ramsay, by taking some scrip in the bid entity," it said in a statement on Wednesday.

"Assessment of any conditional indicative offer is up to the board of RHC. However, should an offer materialise along the lines canvassed in RHC's ASX Announcement, PRF would support such an offer being put to shareholders," it said. (Reporting by Scott Murdoch and Anshuman Daga, Editing by Louise Heavens)