KKR Led Consortium Offers To Buy Australia's Largest Private Hospital Operator: WSJ

Wall Street Journal reported that a KKR & Co Inc KKR-led consortium offered to buy Australian hospital operator Ramsay Health Care Ltd RMSYF RMYHY for roughly $14.9 billion.
Ramsay is Australia’s largest private hospital operator and operates in the U.K., France, Scandinavia, Malaysia, and Indonesia.
In Australia’s private hospital sector, Ramsay has 28% of beds, double the market share of Healthscope, its next-largest rival, analysts say.
Ramsay said it had received a nonbinding, indicative proposal from a consortium to acquire the company for A$88 or about $65 a share in cash. The stock closed Tuesday at A$64.39.
Australia-listed Ramsay said the consortium had requested confidentiality but that it disclosed the proposal because of media speculation. The Australian Financial Review reported the approach late Tuesday.
KKR has several Australian investments, including a 55% stake in wealth manager Colonial First State Investments Ltd, which held a 0.28% interest in Ramsay on March 31.
Its Australian healthcare assets include oncology specialist GenesisCare.
Ramsay said the talks with KKR were preliminary and that the consortium could withdraw the proposal now that it was no longer confidential.
The consortium includes sovereign-wealth funds, international and local investors, including Hesta superannuation fund, a person familiar with the matter said.
Price Action: KKR shares closed 3.45% higher at $56.43 on Tuesday.