Nestor rejects Acromas bid
Private equity-backed insurance company Acromas has had its bid for UK social care services company Nestor Healthcare rejected.
Nestor said it received an unsolicited approach regarding a possible offer for the company from Acromas of 90 pence per share in cash. However, the company's board voted against the bid as they believed it materially undervalues the company.
Acromas, owned by CVC Capital Partners, Charterhouse and Permira has reportedly said that its offer fairly values the recent growth of Nestor. It is understood that Nestor may table another offer.
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