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.
  

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.