ES Saude/Fosun offer raised to EUR 5.01 per share
Espirito Santo Saude's Chinese suitor Fosun has raised its bid for the company to EUR 5.01 per share from the previous EUR 4.82 per share, according to a newswire report.
UnitedHealth's rival EUR 5-per-share offer is illegal, according to Fosun, since it was made directly to Rioforte, the Espirito Santo family's holding company, in exchange for its 51% stake in the Portuguese hospital business, the Reuters item said. Fosun lodged its bid through its local insurance arm, Fidelidade, the report added.
Fidelidade has asked Portugal’s securities regulator (CMVM) to review the legality of UnitedHealth’s offer, which it also says was submitted after the expiration of a 3 October offer deadline.
The report noted a CMVM press release issued earlier extended the deadline for ES Saude to accept Fosun’s offer to 14 October from 10 October.
The Espirito Santo family is under pressure to sell assets after requesting creditor protection in July, as reported.
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