Healthscope Limited (ASX:HSO) rejected on May 22, 2018 takeover approaches worth more than $3 billion from rival suitors Brookfield Asset Management Inc. (TSX:BAM.A) and BGH Capital, saying both undervalue the company. Healthscope has put its Asian pathology business up for sale after receiving approaches from a number of parties. "The Directors have carefully considered each proposal and concluded that neither proposal adequately reflects the long term value of Healthscope, or its underlying assets or future potential," Healthscope Chairman Paula Dwyer said. The company said it plans a strategic review of its hospital property portfolio, and would look at the merits of a sale and leaseback transaction to unlock value for shareholders. Spokesmen for both Brookfield and BGH declined to comment. Healthscope's shares fell as much as 7% at the open, but later pared some of the losses to trade down 3.5%. The stock has risen 21% since the company received the first non-binding offer, from new Australian private equity firm BGH, on April 26, 2018.