Standard Digital Edition

CareTech takes itself private for £870m

Michael Hunter @MJJHunter

RESIDENTIAL social care provider CareTech Holdings is to take itself private in a deal worth over £870 million.

The AIM-listed company recommended investors accept the deal — priced at 750p per share in cash — struck with its co-founders Haroon Sheikh and Farouq Sheikh. It is backed by THCP Advisory, the fund management firm.

Investors can elect to receive shares in the vehicle set up to make the bid, Amalfi Bidco, instead of the cash. The cash price represents a 28% premium to the closing price of CareTech’s stock on March 4, the last business day before the start of the offer period.

Business

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2022-06-27T07:00:00.0000000Z

2022-06-27T07:00:00.0000000Z

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