iSoft shareholders not interested in share deal from IBA Health, cash bid unlikely - market reports
IBA Health's takeover discussions with iSoft Group are rumoured to have hit a snag, according to a market report in The Independent. The report noted talks that iSoft shareholders are not interested in a share-based deal. However, IBA, the Australian software group, is unlikely to make a cash offer for its UK-listed rival, the report said.One trader cited by the report noted concerns that iSoft would be left with little option but to launch a heavily-discounted rights issue if it fails to secure a deal with IBA.
A market report in The Guardian noted that ABN Amro, the listed Dutch bank advising iSoft, acquired 2730 shares in the company at 43.5p yesterday (1 March).iSoft shares fell 3.25p to close at 41.25p. The company's market capitalisation stands at GBP 95.9m (EUR 142.4m).
Source : Independent, The Guardian
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