Integral Diagnostics Ltd. appointed Credit Suisse Group AG and Herbert Smith Freehills as financial and legal advisers to assess Capitol Health Ltd.'s takeover offer.
Capitol Health said it would pay 6.9 fully paid ordinary shares and 36 Australian cents in cash for each share of the Australian diagnostic imaging services provider.
Integral Diagnostics, which had earlier advised shareholders to take no action regarding the offer, reiterated its stance in a Dec. 12 letter addressed to shareholders by Chairman Helen Kurincic.
The company said that after Capitol Health provides a bidder's statement, which it must do by Jan. 29, Integral Diagnostics will issue within 15 days a target's statement containing the board's recommendation to shareholders as well as its rationale.
Kurincic requested shareholders not to respond to Capitol Health, an operator of diagnostic imaging facilities also based in Australia, until receiving the target's statement. She added that she was working closely with the board and advisers on evaluating the merits of Capitol Health's proposal.
