UK’s NeutraHealth Gets Offer From Elder Pharma

02 March, 2009

UK-based NeutraHealth Plc said it received an unsolicited offer from India’s Elder Pharmaceuticals at an indicative partial offer price of 5.5 pence per share.

A potential deal could raise Elder’s stake in the company to between 50 percent and 60 percent from 21 percent, the distributor of vitamins, supplements and alternative remedies said in a statement.

NeutraHealth, which delayed releasing its results following the offer approach, said it expected 2008 revenue to be about 28.9 million pounds ($41.37 million), with earning before interest, taxes, depreciation and amortization, before one off items, of 1.9 million pounds.

Net debt is expected to be 4.3 million pounds, it said.

NeutraHealth shares were up 29.4 percent at 5.5 pence at 0816 GMT

Summary

Says indicative partial offer price at 5.5p/shr

* Offer could raise Elder’s stake to 50-60 pct

* Sees ’08 EBITDA at 1.9 mln stg, rev 28.9 mln stg

* Shares rise 24 pct

 


Leave Your Comment
Elder to acquire UK's NeutraHealth for Rs 70 cr

Elder to acquire UK’s NeutraHealth for Rs 70 cr

Reghu Balakrishnan 7 years ago
Mumbai-based Elder Pharmaceuticals Ltd is to acquire NeutraHealth, a UK-based supplier of vitamins and supplements, for about Rs 70 crore (9.8 million pounds). The price...
UK's Liberty Raises $862 M In Share Issue

UK’s Liberty Raises $862 M In Share Issue

Reuters 1 year ago
 Sells 200 mln new shares at 310p/shr. * Issue at 28 pct discount to Monday’s closing price * Gordon family subscribes to 12.9 mln shares...
News Roundup: Merrill Lynch Eyes AS Cargo Exit

News Roundup: Merrill Lynch Eyes AS Cargo Exit

TEAM VCC 1 year ago
Shree Renuka Sugars Ups Stake In NCDEX to 12% – Karnataka-based sugar refiner Shree Renuka Sugars has exercised its right of first refusal (RoFR) to...
No Comments

UK’s NeutraHealth Gets Offer From Elder Pharma

Powered by WordPress.com VIP