APM Human Services receives acquisition offer from US PE firm
Make us a preferred source
Make us a preferred source on Google
The news: APM Human Services has been approached by US private equity firm Madison Dearborn Capital Partners (MDP) to acquire the company and in turn has extended its voluntary suspension of trading on the ASX until Monday.
The numbers: APM said it received a letter of intention from Chicago-based MDP stating its intention to submit a non-binding indicative offer to acquire 100% of APM's issued shares.
The context: MDP advised that its intention is to submit the offer during the morning of 5 April, Chicago time (GMT-5), Friday evening AWST for Perth-based APM.
APM said it requested an extension of its voluntary suspension to allow the company to receive and consider the terms of MDP's offer and disclose those terms to the market, in order for its shares to trade on an informed basis.
On Tuesday, APM shares were suspended from quotation on the ASX after the company received "approaches from parties to assess the potential for a transaction".
Last week, APM entered a trading halt after a letter from takeover suitor CVC advising that it was "unable to finalise a transaction" on terms consistent with their earlier acquisition offer.
The source: ASX announcement
