April 14 China-focused hospital operator Chindex
International Inc received a buyout offer of $23 per
share, higher than the $19.50 offered by Shanghai Fosun
Pharmaceutical Group and private equity firm TPG in
Chindex, which runs the United Family Healthcare hospitals
in China, did not name the new bidder.
The latest offer represents a 23 percent premium to
Chindex's Friday close on the Nasdaq and values the company at
$416 million, based on 18.1 million outstanding shares as of
Chindex's shares were trading at $22.89 on Monday morning.
In February, Shanghai Fosun and TPG agreed to take Chindex
private to gain access to China's fast-growing private
Chindex said on Monday that the latest offer constitutes a
"superior proposal," as per the company's earlier agreement with
the buyout group led by Shanghai Fosun and TPG.
Morgan Stanley & Co is advising Chindex financially on the
latest offer, while Hughes Hubbard & Reed LLP is its lead legal
(Reporting by Sneha Banerjee in Bangalore; Editing by Kirti