Business Services Industry
Symbion decision has Sigma fuming.
Australasian Business Intelligence, June, 2007
Byline: Nabila Ahmed
Jun 20, 2007 (The Age - ABIX via COMTEX) -- A war of words has erupted between the heads of Symbion Health and Sigma Pharmaceuticals. Elmo de Alwis, MD of Sigma, says its fellow Australian health care sector company should accept the takeover offer of $1.105 billion for Symbion's pharmacy and consumer products assets. However, Symbion CEO Robert Cooke and his board are recommending a rival pitch by private equity firms Ironbridge and Archer Capital that is valued at $A1.085bn. The division is being offloaded under the terms of a merger deal between Symbion and hospital and pathology services manager Healthscope, which is also being looked at by the Australian Competition & Consumer Commission. De Alwis is threatening legal action.
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