Integral responds to lapse of takeover offer

Company News

by Anna Napoli

Diagnostic Services provider Integral Diagnostics (ASX:IDX) has responded to Capitol Health’s announcement that its takeover bid will lapse.

The Integral board unanimously recommended that shareholders reject Capitol's offer earlier this year.

The business describes Capitol's offer as a hostile takeover and as value destructive for shareholders.

Capitol announced a $340 million dollar offer for Integral in December last year.

The company says the independent expert also assessed that the offer was neither fair nor reasonable.

Shares in Integal (ASX:IDX) closed 0.95 per cent lower yesterday at $2.09 yesterday.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.