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UK — Feud over Supporta acquisition

24 December 2009

Allied Healthcare International Inc. (AHCI:NSQ), the US quoted provider of healthcare staffing services in the UK, has reacted to speculation in the press regarding a potential cash offer for Supporta Plc. (SOR:LSE), the diversified support services group.

Allied Healthcare says in a statement "Allied can confirm that it has submitted an indicative cash offer for the entire issued share capital of Supporta, which is subject to, amongst other things, due diligence."


"Discussions with the Board of Supporta and its advisers are ongoing and Allied is currently undertaking a due diligence exercise. It should be noted that there is no certainty that an offer will be forthcoming or, in the event that one is made, on what terms."

Supporta had announced on 18 December 2009 that "they have reached agreement on the terms of a recommended offer by Mears Group Plc (MER:LSE) to acquire the entire issued and to be issued share capital of Supporta."

However, Nigel Welby of Romac Investments, the major shareholder in Supporta, expressed concern that Supporta was looking past a potential bid by Allied when it recommended a proposal by Mears. He told the Mail "we were most concerned that a better offer may be lost."

 

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