November 28, 2017 / 9:38 PM / 18 days ago

BRIEF-Capitol Health Intends To Make Off-Market Takeover Offer For Integral Diagnostics​

Nov 29 (Reuters) - CAPITOL HEALTH LTD:

* INTENTION TO MAKE A TAKEOVER OFFER FOR INTEGRAL DIAGNOSTICS

* ANNOUNCES INTENTION TO LAUNCH AN OFF-MARKET TAKEOVER OFFER FOR INTEGRAL​

* ‍6.9 FULLY PAID SHARES IN CAPITOL AND $0.36 CASH FOR EACH VOTING SHARE ON ISSUE IN INTEGRAL, IMPLYING VALUE OF $2.46 PER INTEGRAL SHARE​

* DEAL EARNINGS PER SHARE ACCRETIVE

* ‍MERGECO IS ESTIMATED TO HAVE UNDERLYING PRO FORMA FY18 EBITDA OF $64 MILLION​

* CERTAIN SHAREHOLDERS OF INTEGRAL HAVE INDICATED THEIR SUPPORT FOR OFFER BY ENTERING INTO PRE-BID ACCEPTANCE AGREEMENTS WITH CAPITOL​

* ‍CAPITOL ESTIMATES ANNUAL PRE-TAX COST SYNERGIES OF $5 MILLION​

* ‍MERGECO IS EXPECTED TO DELIVER MID-TEENS EPS ACCRETION IN FY19 FOR CAPITOL SHAREHOLDERS​

* ‍OFFER IMPLIED A VALUE OF $2.46 PER INTEGRAL SHARE​

* FUNDING DEAL WAY OF NEW DEBT FACILITIES CONSISTING OF FACILITY OF $100 MILLION, SUPPLEMENTING CAPITOL‘S EXISTING $35 MILLION FACILITY​ Source text for Eikon: Further company coverage:

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