Private Hospital group, Healthscope (ASX:HSO) has rejected takeover proposals from private equity funds BGH and Brookfield.
The Board says both proposals undervalue the company and its future operating performance.
Separately, Healthscope has updated its operating earnings (EBITDA) to a range of $340 to $345 million for the 2018 financial year.
This compares to operating earnings of $359 million last financial year.
The company says the fall in earnings is due to softer market conditions and site-specific issues at a number of hospitals.
Shares in Healthscope (ASX:HSO) closed 0.81 per cent lower to $2.46 yesterday.