Symbion says to recommend Primary bid

Sun Feb 10, 2008 7:39pm EST
 
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SYDNEY (Reuters) - Australian medical testing company Symbion Health Ltd SYB.AX said on Monday its directors would recommend Primary Health Care Ltd's A$2.7 billion ($2.5 billion) bid if Primary secures more than 50.1 percent stake in Symbion.

Primary's offer, which it said last week it would not raise, is due to close on February 21. Primary held 49.7 percent of Symbion as of Feb 8.

($1=A$1.11) (Reporting by Denny Thomas;)

 

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