Big payday coming for Harbour on top of FirstCape merger
Harbour owns 15% of ASX-listed but Wellington-based Volpara Health, which uses software to detect breast cancer early, and South Korea-listed cancer detection company Lunit Inc has launched a takeover offer for Volpara valuing its equity at A$295.7 million.
Lunit will offer A$1.15 per share for Volpara under a scheme of arrangement which its board says is “the most compelling value for shareholders in the absence of a superior proposal” and that it follows a thorough assessment of different strategic options.
Volpara shareholders are exepected to vote of the scheme early in the second quarter of 2024 and the board is unanimously recommending that they accept, conditional on the price offered being within or above an independent adviser's valuation.
Volpara shares closed on Wednesday at 77.5 Australian cents and the offer price represents a 47.4% premium.
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