Q&M / SMG

Q&M / SMG: Grp has announced a takeover bid of about S$22.65m for Catalist-listed Singapore Medical Group, accelerating access into the lucrative multi-disciplinary specialist medical practice in the region. Grp is offering $0.1323/share of SMG. The offer price is a 41% premium over SMG’s last traded share price of $0.094. Q & M will purchase a 72.57%-stake from 2 substantial shareholders of SMG – Felix Huang and Dr Xiaoyan Baumann Geb Bi – for $13.99m. The proposed transaction triggers a mandatory general offer for the remaining shares of SMG at $0.1323/share. Barring any unforeseen circumstances, the proposed deal is expected to complete in 2Q13.