Virtus Health: Accepts CapVest’s improved buyout offer

Virtus Health Accepts CapVest’s improved buyout offer

• Virtus Health (VRT) announces its transaction implementation deed (TID) with CapVest Partners which will take 100 per cent control of Virtus by a scheme arrangement
• The binding agreement is a two-tiered offer, beginning with a scheme of arrangement at $8.25 per share and ending with a takeover bid at $8.10 per share if it fails
• The enhanced consideration by CapVest was in response to a revised unsolicited non-binding conditional expression of interest from BGH to purchase all of Virtus’ shares by a plan of arrangement for $8.10 per share
• The board has agreed to unanimously recommend that Virtus shareholders vote in favour of the scheme.
• VRT shares are up 7.53 per cent, trading at $8.28 by the end of the trading day