Change in Crescent’s intention ahead of market guidance
The board of Abano Healthcare Group has today been advised through a media release from Crescent Capital Partners, that Crescent’s intention is to waive the 90% condition in its takeover offer if it receives acceptances taking it over 50%. Crescent has also advised that it will not be increasing the offer price of $5.20 per share.
As previously notified, the Abano board is currently in the process of preparing updated market guidance. This is expected to be released at the end of February 2008.
The board notes its earlier advice to Abano shareholders to reject the offer from Crescent and notes that to date Crescent has received acceptances in respect of less than 1.7% of shares on issue.