New takeover offer for Vision

Vision has received a more generous takeover bid from a Chinese manufacturing firm.

We have no idea what a Chinese interior decoration and wall manufacturer wants with Australian ophthalmology network Vision Eye Institute, but the truth is we don’t really care. Jangho Group has made an all-cash takeover offer of $1.10 per share for Vision. Jangho already owns a 20% stake in the company, which it purchased from Primary Health Care for 94 cents per share earlier this month (see Primary sells Vision stake).

Being all cash and materially higher, the Jangho offer is far superior to Pulse Health’s takeover bid for Vision, which is an all-share consideration of 1.6 shares in Pulse for every Vision share (an equivalent value of 88 cents).

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