Panel Received Application in Relation to Ramsay Bid for Alpha Healthcare [04/05/2001] The Takeovers Panel

Friday, 4 May 2001

Panel Received Application in Relation to Ramsay Bid for Alpha Healthcare

The Panel yesterday received an application by Alpha Healthcare Ltd (Alpha) in relation to the takeover bid by Ramsay Centauri P/L (Ramsay) for all of the shares in Alpha. The application is for a declaration of unacceptable circumstances and for orders unwinding a Pre-Bid Agreement dated 9 April 2001 (Pre-Bid Agreement) between Ramsay, Ramsay Healthcare Ltd (RHC), SHG Holdings Pty Limited (receiver and manager appointed) (SHG) and Sun Healthcare Group Australia P/L (receiver and manager appointed) (Sun Healthcare).

Alpha is concerned over:

  • Disclosure issues in Ramsay's bidder's statement in relation to the Pre-Bid Agreement: and
  • Whether the Pre-Bid agreement placed Ramsay or SHG or Sun healthcare in an unfairly advantaged position or affected the market for control of Alpha.

The Acting President of the Panel, Mrs. Nerolie Withnall is assembling a sitting Panel for the matter.

Nigel Morris
Director, Corporations and Securities Panel
Level 47 Nauru House
80 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3501