Symbion Health (SYB.AX) is again in merger talks. There is a bid from Healthscope (HSP.AX) and a couple of private equity firms that values the company at $A4.30 per share. The firm would be dismantled and the path labs etc. merged with Healthscope in return for Healthscope shares and the pharmacy etc. division would be purchased by the private equity guys for cash. I will be due long-term CGT on the latter and I believe no tax on the scrip for scrip portion. So I'm planning to hang on and see what happens here.
In related news, Powertel, which was acquired by Telecom NZ was delisted today. From the merger scheme document seems we'll be sent a paper check (for $A11,500 in my case), which I'll then need to mail straight back to Australia. I am thinking to use $A1500 towards paying off my margin loan and then wiring $A10,000 back to the US. The check will likely not be mailed till May 9th. In the meantime I'm recording this as a receivable.
1 comment:
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