There are rumours that another party has entered the fray for the ASX-listed operator – and it’s not another Not For Profit.
The Australian’s Street Talk section is reporting that Japara’s adviser, Macquarie Capital, is talking to another strategic group, which is not a private equity firm or a Not For Profit aged care provider.
As we reported here, Calvary made two offers for Japara – the first for $1.04 per share on 30 April and the second for $1.20 – before Bolton Clarke sought to pip them at the post with a $1.22 per share offer.
Japara’s shares have risen from around $0.80 to $1.28 since the offers, putting its market value at $343 million – still well below its 2014 listing at $707 million.
The Australian understands Aurrum Aged Care – which has a stake in Japara through its founder and director David di Pilla – is not the interested party, nor is it the other two listed aged care providers Regis and Estia.
Watch this space then.