Stocks to Watch – Healthscope (HSP) 8 June 2010
Healthscope (HSP) is the second largest private hospital provider, operating pathology businesses and medical centres in Australia and Asia.
HSP has confirmed that US-based Tenet Healthcare has dropped its bid for the private healthcare provider.
Tenet had come under fire from analysts and shareholders who questioned the merit of the acquisition, with the speculation putting Tenet’s share price under severe pressure of late.
The withdrawal of a potential acquirer lowers the takeover tension in the battle for HSP, which was a negative for its share price. HSP shares dipped 0.9% today.
Australian share price for HSP clearly gapped higher on two recent occasions. Selling pressure has pushed the stock down as of late, last closing down 0.9%, at $5.44 a share.