EC Healthcare (SEHK:2138) made an offer to acquire SILK Laser Australia Limited (ASX:SLA) from Wilson Asset Management (International) Pty Limited and others for approximately AUD 180 million on May 23, 2023. As per the terms of the transaction, the offer per share is AUD 3.35. EC Healthcare intends to acquire SILK laser by way of a scheme of arrangement.

The Indicative Proposal is subject to conditions including the satisfactory completion of due diligence, final SILK Board approvals, entry into a Scheme Implementation deed, and obtaining regulatory clearances and other customary terms and conditions. Highbury Partnership is acting as financial adviser to SILK. Kain Lawyers is acting as legal adviser to SILK.

Wilsons Corporate Finance Limited is acting as co-advisor. James Stewart of DLA Piper acted as legal advisor to EC Healthcare. On June 2, 2023, SILK Board?s intention to unanimously recommend that SILK shareholders vote in favour of the EC Indicative Proposal.

All necessary regulatory approvals being obtained. On June 26, 2023, SILK announced that it had entered into a Scheme Implementation Deed.