Home / Business and Economy / Monash IVF Takeover Bid Collapses
Monash IVF Takeover Bid Collapses
24 Dec
Summary
- A takeover proposal valued at A$311.7 million has been withdrawn.
- Monash IVF shares dropped over 15% following the withdrawal.
- The board previously deemed the offer opportunistic and undervalue.
The A$311.7 million takeover proposal for Monash IVF Group has been formally withdrawn, significantly impacting the company's stock. Shares of the Australian fertility provider fell sharply by more than 15% to A$0.69, marking a one-month low following the announcement.
The non-binding offer, made in November by Genesis Capital Investment Management and WHSP Holdings, was for A$0.80 per share. Monash IVF's board had previously stated their view that the proposal was opportunistic and materially undervalued the company, a sentiment echoed by market analysts who attributed Wednesday's stock drop to thin holiday markets.
This development follows earlier challenges for Monash IVF, including two embryo mix-up incidents earlier in the year which led to the departure of its former CEO. Market observers anticipate a potential recovery in confidence for the company in the coming year.
