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Ramsay Générale's takeover of Capio cleared by French authority

The French Competition Authority granted unconditional clearance to Ramsay Générale de Santé SA's 8.19 billion Swedish kronor acquisition of healthcare services provider Capio AB (publ).

On Oct. 8, the French unit of Australia's Ramsay Health Care Ltd. increased its bid to buy all of Capio's shares to 58.0 kronor per share in cash from the initial 48.5 kronor per share offer.

In addition to waiving the condition on competition clearances, the hospital operator lowered the deal's ownership condition. The takeover's completion is now subject to Ramsay acquiring 75% of Capio's shares on a diluted basis, down from the prior ownership condition of 90%.

The offer's acceptance period will expire Oct. 25, unless Ramsay decides to extend it.

As of Oct. 15, US$1 was equivalent to 8.94 Swedish kronor.