By Mike Cherney
SYDNEY--Ramsay Health Care Ltd. said it has ended discussions with a consortium led by KKR over a possible takeover bid for the hospital operator.
Earlier this month, KKR flagged concerns about downward pressure on Ramsay's valuation and said it was not in a position to improve its bid. Despite further discussions since then, Ramsay said it has become apparent that the consortium is unable to provide a new proposal at this time.
Ramsay said it is open to engaging on further takeover proposals if they provide appropriate value for shareholders and can be completed in a reasonable timeframe, but that appears unlikely in the near future.
"Ramsay remains focused on its business, driving its strategy to be a leading integrated healthcare provider of the future and the creation of long-term value for shareholders," Ramsay said in a statement.
Ramsay said it will provide a business update in November.
Write to Mike Cherney at mike.cherney@wsj.com
(END) Dow Jones Newswires
09-25-22 1908ET