Metropolis Healthcare up 0.7% as board approves acquisition of Hitech Diagnostic
Metropolis Healthcare said the deal would be worth Rs 636 crore.
By Bhaskar Dutta, ETMarkets.com |
Agencies
NEW DELHI: Metropolis Healthcare gained 0.7 per cent in early trading Mumbai on Monday after the diagnostic chain said that its board has approved the acquisition of Hitech Diagnostic Centre and its subsidiary Centralab Healthcare Services.
At 09:50 hours (IST), shares of Metropolis Healthcare were at Rs 2,660 on the National Stock Exchange, up 0.65 per cent from previous close.
In a statement on Friday, the company said the deal would be worth Rs 636 crore.
In January, the diagnostic chain’s board had agreed on a cash consideration of Rs 511 crore for the deal, but now the terms of the transaction have been changed, with cash consideration of Rs 636 crore as against the earlier combination of cash and equity, the statement by Metropolis said.
The indicative period for completion of the deal is 6 months.
At 09:50 hours (IST), shares of Metropolis Healthcare were at Rs 2,660 on the National Stock Exchange, up 0.65 per cent from previous close.
In a statement on Friday, the company said the deal would be worth Rs 636 crore.
In January, the diagnostic chain’s board had agreed on a cash consideration of Rs 511 crore for the deal, but now the terms of the transaction have been changed, with cash consideration of Rs 636 crore as against the earlier combination of cash and equity, the statement by Metropolis said.
The indicative period for completion of the deal is 6 months.
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