Capio rejects US$771 mil bid from hospital group Ramsay

STOCKHOLM (July 13): Swedish healthcare company Capio on Friday rejected a bid worth 661 million euros (US$771 million) from the French subsidiary of Australian hospital group Ramsay Health Care, saying it undervalued its business.

The takeover offer, which sent Capio’s shares up 24%, could help Ramsay Générale de Santé to become a leading private pan-European healthcare services operator.

Ramsay Generale, in which the Australian parent owns 50.9%, offered Capio shareholders 48.5 Swedish crowns per share, a premium of 16% to Capio’s last close.