Soul Pattinson looking to make another play for Regis: The Australian

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More signs that the aged care sector is proving attractive to investors.

The paper’s Dataroom section is reporting that Washington H. Soul Pattinson is likely to launch another bid for the listed aged care provider.

As we covered here, Soul Pattinson made an offer of $1.85 a share – in partnership with Regis co-founder Bryan Dorman, who commands a 27% stake in the provider last Thursday, but it was rejected by Regis’ board on Friday morning for undervaluing the provider.

The Soul Patts’ bid had represented a 25% premium on Regis’ current share price, which had fallen as low as $0.70 during COVID.

But the offer brought Regis’ shares as high as high as $1.84, almost as high as the offer – at the time of publication yesterday, it was sitting at $1.83.

This followed a previous offer by Soul Patts of $1.65 a share made on 30 September with Skip Capital, an investment firm owned by Atlassian co-founder Scott Farquhar.

The other two big listed players Japara and Estia have also seen their existing and current co-founders and directors lift their stakes in the companies in the last two weeks.


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