STOCK MARKET SNAPSHOT FOR 01/3/2022

Australia’s Virtus Health Ltd said on Tuesday it would not engage with private equity firm BGH Capital after rival bidder CapVest Partners lobbed a sweetened buyout proposal that valued the healthcare firm at A$667.2 million ($484 million).
CapVest’s new offer of A$7.80 per share topped BGH’s sweetened bid of A$7.65 per share made on Monday. Earlier, CapVest had offered A$7.60 per Virtus Health share.
CapVest’s new offer represents a premium of 4.7% to Virtus Health’s last close and includes an option of alternative structure, such as an off-market bid, at a lower price which would require approval from minimum 50.1% Virtus shareholders.
($1 = 1.3774 Australian dollars)
Source: Reuters (Reporting by Sameer Manekar in Bengaluru; Editing by Maju Samuel and Subhranshu Sahu)