Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
I was reading your comments about RHC in the Tuesday morning email and I'm wondering if you think that KKR will come back for another crack at Ramsay now that the share price is down at around the $50 mark or do you think that KKR has decided that it's all too hard? Cheers, Carl
Hi Carl,
Definitely wishful thinking at our end as we own RHC in our Active Growth Portfolio, the initial KKR bid back in April 2022 was at $88 per share, this was subsequently pulled in August although they left the door open for talks on an alternative proposal, i.e. not all cash.
The sticking point at the time appeared to be RHC French operation, Ramsay Sante (GDS FP), which is still an issue but with RHC trading ~40% below their original bid a revisit would make some sense, especially as the French listed company has rallied ~20% from its late 2022 low – RHC owns 52.79% of GDS.
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