Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

The Board of Capio Unanimously Recommends Shareholders of Capio to Accept the Increased Cash Offer From Ramsay GdS and Cancels the Announced EGM


News provided by

Capio AB

10 Oct, 2018, 06:29 GMT

Share this article

Share toX

Share this article

Share toX

GÖTEBORG, Sweden, Oct. 10, 2018 /PRNewswire/ --

Following the cash offer from Ramsay Générale de Santé ("Ramsay GdS") on July 13, 2018, of SEK 48.50 per share (the "Initial Offer"), Ramsay GdS announced an increased cash offer of SEK 58 per share (the "Increased Offer") to the shareholders in Capio on October 8, 2018. The Increased Offer represents a premium of approximately 39 per cent to the closing price of SEK 41.80 per share on Nasdaq Stockholm on July 12, 2018 (the last trading day prior to the announcement of the Initial Offer), a premium of approximately 14% to the closing price of SEK 50.80 per share on Nasdaq Stockholm on October 5, 2018, and an increase of approximately 20% from the Initial Offer by Ramsay GdS of SEK 48.50 per share on July 13, 2018. Ramsay GdS has decided to lower the acceptance level condition to 75% (on a fully diluted basis). Hence, the Board of Capio unanimously recommends the shareholders in Capio to accept the Increased Offer. As a result, the Board has also decided to withdraw its proposal regarding the sale of Capio France and consequently cancelled the extraordinary general meeting to resolve on such sale.

On July 13, 2018, Ramsay GdS announced a public cash offer to the shareholders in Capio AB (publ) ("Capio") to sell all of their shares to Ramsay GdS at a price of SEK 48.50 per share. The Board of Capio rejected the Initial Offer as it did not believe it adequately reflected the fundamental value of Capio.

On October 8, 2018, Ramsay GdS announced an increased public cash offer of SEK 58 per share to acquire all shares in Capio. The Increased Offer is approximately 39% higher than the closing price on July 12 (the last trading day prior to the announcement of the Initial Offer), is approximately 14% higher than the closing price on October 5 and is approximately 20% higher than the Initial Offer announced on July 13. Ramsay GdS also decided to waive the condition of the Initial Offer relating to the receipt of approval from the French Competition Authority. Ramsay GdS has now also decided to lower the acceptance level condition to 75% (on a fully diluted basis). Other than the price per share, the waiver of the competition clearance condition and the lowering of the minimum acceptance condition to 75 per cent, the terms and conditions for the Initial Offer remain unchanged. The acceptance period expires on 25 October 2018 (subject to any extensions).

The Board's opinion on the Increased Offer is based on an overall assessment of a number of factors which the Board has considered relevant for the evaluation of the Increased Offer. These factors include, but are not limited to, Capio's current position, its expected future development, given Capio's strong base in Modern Medicine and Modern Management, and the previously planned strategic re-positioning towards the Nordic markets with the prospective sale of the French and German businesses. In evaluating the Increased Offer, the Board has also used methods normally used for evaluating public offers for listed companies, including Capio's valuation relative to comparable companies and comparable acquisitions, premiums in previous public offers on Nasdaq Stockholm, and the Board's view on Capio's long-term value based on its expected dividend and cash flow generation, taking into account a possible strategic positioning towards the Nordic markets.

Having concluded this evaluation, the Board believes that the terms of the Increased Offer, including the significantly reduced execution risk as a result of the lowered acceptance level condition, substantially recognize Capio's stand-alone value, taking into account a possible strategic positioning towards the Nordic markets. The Board therefore unanimously recommends shareholders of Capio to accept the Increased Offer. As a result, the Board has decided to withdraw its proposal to resolve on the proposed sale of Capio France to Vivalto Santé ("Vivalto") and consequently cancelled the extraordinary general meeting that was to be held on October 18, 2018.

In its offer document, Ramsay GdS has stated that it "does not currently foresee any material impact on Capio's or RGdS' (Ramsay's) employees, including the terms of employment and the locations where the companies conducts their operations as a result of the acquisition". The Board assumes that this description is correct and has no reason to take a different view in this respect.

As stated in the press release of August 21, 2018, Capio has undertaken to cover Vivalto's costs in relation to the transaction up to MEUR 5.0 if the Capio Board recommends a public offer or cancels the extraordinary general meeting. This cost coverage-fee is payable to Vivalto.

PJT Partners has been retained as financial adviser, Mannheimer Swartling has been retained as legal adviser, and Fogel & Partners has been retained as communication adviser to the Board of Directors of Capio.

The Statement shall in all respects be governed by and construed in accordance with substantive Swedish law. Disputes arising from the Statement shall be settled exclusively by Swedish courts.

The Capio Board of Directors

Contact:

Henrik Brehmer, SVP Group Communication & Public Affairs
Telephone: +46 761 11 34 14, E-mail: henrik.brehmer@capio.com

This is information that Capio AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Takeover rules. The information was submitted for publication, through the agency of the contact person set out above, at 8:17 (CET) on October 10, 2018.

This information was brought to you by Cision http://news.cision.com

http://news.cision.com/capio-ab/r/the-board-of-capio-unanimously-recommends-shareholders-of-capio-to-accept-the-increased-cash-offer-f,c2639755

The following files are available for download:

http://mb.cision.com/Main/277/2639755/923745.pdf

Press release (PDF)

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.