(Bloomberg) -- Australian hospitals operator Ramsay Health Care Ltd. said it has ended talks about a buyout of the company by a consortium of suitors led by KKR & Co., capping a series of derailed proposals.
The Ramsay board and the consortium have mutually agreed to terminate discussions after it “become apparent that the consortium is unable to provide a new proposal at this time,” the Sydney-based company said in a statement Monday.
The statement follows one from the company’s suitors earlier this month in which the group said it had no plans to improve the terms of an alternative takeover proposal that was rejected after it attempted to revise an initial all-cash offer of A$20.1 billion ($13.1 billion).
“While the Ramsay board remains open to engaging in relation to a change of control proposal that provides appropriate value for shareholders and has sufficient certainty of completion in a reasonable timeframe, it is apparent that this is unlikely to be forthcoming in the near future,” the company said.
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