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Remgro Says Considers Position After Mediclinic Rejects Possible Cash Offer

Remgro Limited announced Thursday that the Consortium, which offered to buy Mediclinic International plc (MDC.L), is considering its position after the possible cash offer at a price of 463 pence per share was rejected by the private hospital group.

The company was responding to a recent press speculation relating to a potential transaction involving Mediclinic.

Remgro confirmed that a Consortium comprising the company and MSC Mediterranean Shipping Co. SA or MSC, acting through its unit SAS Shipping Agencies Services Sàrl or SAS made a proposal on May 26 to the Board of Mediclinic regarding a possible cash offer for Mediclinic shares not already owned by Remgro at a price of 463 pence per share.

The Consortium is comprised equally of Remgro, Mediclinic's long-term 44.6% shareholder, and SAS.

The Proposal is inclusive of the final dividend of 3 pence per share declared by Mediclinic on May 25. Subject to approval of the FY22 Final Dividend at the Mediclinic Annual General Meeting and following the FY22 Final Dividend record date which is currently expected to be August 5, the Proposal shall be reduced by the amount of the FY22 Final Dividend, in which case eligible Mediclinic shareholders will be entitled to retain the FY22 Final Dividend.

The closing price of Mediclinic was 373 pence on 25 May 2022, being the last business day before the submission of the Proposal.

However, the proposal was rejected by the Mediclinic Board of Directors. The Consortium is considering its position.

The company noted that there can be no certainty that any offer will be made. A further announcement will be made as appropriate.

In London, Mediclinic shares were trading at 441.20 pence, up 3.8 percent.

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