Carlyle, TPG to Buy Australia's Healthscope

Updated from Sunday, July 18

MELBOURNE, Australia ( TheStreet) -- Private-equity firms Carlyle Group and TPG Capital agreed to acquire Healthscope, Australia's No. 2 operator of private hospitals, for A$2 billion ($1.7 billion).

The offer is for A$6.26-a-share cash offer, and the board of Healthscope recommended shareholders aprrove the bid. The price is 39% higher than the stock price before Healthscope disclosed a takeover offer on May 14, according to Bloomberg. The offer, including debt, values Healthscope at A$2.7 billion, Healthscope said.

The Carlyle-TPG consortium outbid rival Kohlberg Kravis Roberts.

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This article was written by a staff member of TheStreet.

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