The actions of the Holy Spirit Health (ESS) were trading higher on Wednesday, up nearly 7%, to 4.20 euros. The securities trading resumed this morning to shoot 8.5% to 4.3 euros following the preliminary announcement of a takeover bid (OPA) of the Mexican group Ángeles Servicios de Salud. The opening price of the shares equaled the preliminary offer.
The Angeles, who announced on Tuesday the launch of a voluntary tender offer on the ESS, is the realization of a series of business conditions depend, among them the assurance of the control of the company, or the acquisition of a ” number of shares representing at least 50.01% of the share capital “of the ESS.
Among other assets, the ESS holds the Hospital da Luz in Lisbon. The group led by Isabel Vaz also manages the Hospital de Loures through a model of Public Private Partnership.
In the preliminary announcement of the acquisition revealed that the Mexican company offers a return of 4.30 euros per Each share of ESS (majority owned by Rioforte, holding non-financial Espírito Santo Group), representing a total of EUR 411 million. According to Reuters, the price offered by the Mexican group corresponds to a premium of 9% over the closing price of ESS and 18.85% compared to the weighted shares in the last six months average price.
Operators market quoted by Reuters, found that the offer reflects the attractiveness of the leading private healthcare in Portugal. “The offer now known reinforces the perceived value of the ESS and provides additional support to the current share price,” said analysts at Caixa Banco de Investimento.
“The OPA was 4.30 euros per title and at the opening, the share price was right for this value.’s a sign of the attractiveness of the company and the health sector, “added an official of GoBulling in Porto. When were suspended, the titles of ESS were to value 0.08% to 3.943 euros.
Caixa BI analysts believe, however, that Angeles may face some difficulties in a process that requires a broad set of prior approvals by various agencies which arises in the context of the dismemberment of the GES.
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