Estia Health receives non-binding proposal from Bain Capital

Aged-care provider, Estia Health Limited (ASX: EHE), has received an indicative non-binding proposal from Bain Capital to acquire all of its shares by way of a scheme of arrangement. Under the terms of the proposal, Estia Health shareholders would receive AU$3.00 cash per share, adjusted for any dividends paid or payable after the date of the proposal.

The proposal is subject to several conditions, including satisfactory completion of due diligence, unanimous recommendation from the board of directors, and approval of the Foreign Investment Review Board. Estia Health has confirmed that it is considering the proposal and assessing whether it is in the best interests of shareholders to engage with Bain Capital. However, there is no certainty that the proposal will result in a binding offer or that any transaction will eventuate.

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