US PE firm Madison Dearborn Partners to buy Australia’s APM in $865m deal – shareandstocks.com
Australia’s APM Human Services International Ltd said on Monday it will be acquired by U.S.-based private equity firm Madison Dearborn Partners (MDP) in a deal valuing the company’s equity at A$1.3 billion ($865.2 million).
Under the scheme, shareholders will receive A$1.45 cash per APM share, representing a premium of about 16% to APM‘s last close of A$1.25 on May 30.
MDP, also the company’s top shareholder, had earlier in April offered to buy the 71% of the Australian employment services firm it does not own for A$1.40 apiece, slightly below the agreed offer price.
The company had halted trading in shares on May 30 pending an announcement on the acquisition proposal from MDP.
Reuters
