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Billionaire Johann Rupert, MSC preparing higher bid for Mediclinic - report

By Michele Maatouk

Date: Thursday 07 Jul 2022

Billionaire Johann Rupert, MSC preparing higher bid for Mediclinic - report

(Sharecast News) - Mediclinic surged on Thursday following a report that a consortium backed by South African billionaire Johann Rupert is preparing a higher takeover bid for the hospital operator.
Bloomberg cited people familiar with the matter as saying that Rupert's investment vehicle Remgro and MSC Mediterranean Shipping Co. are discussing an increase to their offer for Mediclinic.

It was understood that the investor group is negotiating with Mediclinic's board and may seek an extension to the bid deadline if they need more time to reach an agreement on terms. The suitors must announce by Thursday whether they have firm plans for a bid or will walk away, unless they get an extension.

At 0945 BST, the shares were up 5.2% at 465.00p.

Mediclinic announced last month that it had rejected a £3.4bn takeover bid from the consortium on the basis that it "significantly undervalued" the company and its future prospects.

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