January 6, 2019 / 10:46 PM / 3 months ago

Australia's Healius rejects $1.2 bln bid from China's Jangho Group

Jan 7 (Reuters) - Australia’s Healius Ltd on Monday rejected a A$1.7 billion ($1.21 billion) buyout approach from Chinese construction company Jangho Group Co Ltd, saying it undervalued the medical centre operator.

The Australian firm, known until recently as Primary Health Care, said its board “unanimously believes that the proposal is opportunistic and fundamentally undervalues Healius.” ($1 = 1.4063 Australian dollars) (Reporting by Aditya Soni in Bengaluru; Editing by Daniel Wallis)

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