{"id":556517,"date":"2021-10-28T04:20:56","date_gmt":"2021-10-28T04:20:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/bidding-war-for-alex-medical-cooling-off\/"},"modified":"2021-10-28T04:20:56","modified_gmt":"2021-10-28T04:20:56","slug":"bidding-war-for-alex-medical-cooling-off","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/bidding-war-for-alex-medical-cooling-off\/","title":{"rendered":"Bidding war for Alex Medical cooling off?"},"content":{"rendered":"

<\/a> The bidding war for Alex Medical appears to be cooling down, with <\/strong>Alexandria Medical <\/strong>Investment subsidiary TAT Medical Service being the latest to pull its offer<\/strong> to acquire up to 100% of Alex Medical Services, according to a Financial Regulatory Authority statement (pdf)<\/a>. The company notified the regulator yesterday, according to the statement. TAT was offering EGP 49.04 per share of Alex Medical, upping its bid<\/a> from the EGP 45.53 it had initially offered in May, which had put it in the pole position to secure the acquisition.<\/p>\n

Background:<\/strong> TAT had submitted<\/a> a mandatory tender offer (MTO) to acquire Abu Dhabi Commercial Bank\u2019s (ADCB) 51.5% stake in Alex Medical in May, with an eye to snap up 100% of the company. After raising its bid in June, a consortium made up of Saudi\u2019s Tawasol Holdings and private equity firm LimeVest then upped<\/a> its bid to EGP 52 apiece, raising the purchase price to EGP 740 mn, and bumping TAT from the top position.<\/p>\n

Where does this leave the battle for Alex Medical?<\/strong> TAT is the second to exit the heated (and protracted) bidding war for the company, after Speed Medical<\/a> pulled out in May. The bidders still standing are Cleopatra Hospitals Group (which just purchased<\/a>a brownfield project in East Cairo), UAE\u2019s Global One Healthcare, Nile Misr, healthcare investment firm Seha Capital, and the consortium of Tawasol Holdings and LimeVest. Last we heard, Nile Misr Healthcare, which represents diagnostics lab Nile Scan, cautioned<\/a> that it might pull out of the race as well due to the purchase price being driven up.<\/p>\n","protected":false},"excerpt":{"rendered":"

The bidding war for Alex Medical appears to be cooling down, with Alexandria Medical Investment subsidiary TAT Medical Service being the latest to pull its offer to acquire up to 100% of Alex Medical Services, according to a Financial Regulatory Authority statement (pdf). The company notified the regulator yesterday, according to the statement. TAT was […]<\/p>\n","protected":false},"author":1,"featured_media":556518,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[2336,192,72,2334,7128,3306,3375,551,2335],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-alexandria-medical-services","tag-cleopatra-hospitals-group","tag-enterpriseam","tag-limevest","tag-ma-watch","tag-nile-misr-medical-holding","tag-seha-capital","tag-speed-medical","tag-tawasol-holdings","wpautop","entry"],"acf":{"mongo_id":"ad19be3f-8f1a-494f-933b-2462e348c032","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/307.jpg","photo_position":"above","related_issue":[556508],"teaser":"","voice_url":""},"yoast_head":"\nBidding war for Alex Medical cooling off? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/bidding-war-for-alex-medical-cooling-off\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bidding war for Alex Medical cooling off?\" \/>\n<meta property=\"og:description\" content=\"The bidding war for Alex Medical appears to be cooling down, with Alexandria Medical Investment subsidiary TAT Medical Service being the latest to pull its offer to acquire up to 100% of Alex Medical Services, according to a Financial Regulatory Authority statement (pdf). The company notified the regulator yesterday, according to the statement. 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This would value the company at\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/127.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566242,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/06\/the-bookies-should-be-running-odds-on-whos-going-to-get-alex-medical\/","url_meta":{"origin":556517,"position":1},"title":"The bookies should be running odds on who\u2019s going to get Alex Medical","author":"enterpriseam admin","date":"6 June 2021","format":false,"excerpt":"\u00a0Yas Holding launches bid for Alex Medical: It looks like yet another company has joined the bidding war for Abu Dhabi Commercial Bank\u2019s (ADCB) 51.4% stake in Alexandria Medical, as the UAE's Yas Holding (formerly known as Emirates Advanced Investments | LinkedIn) has made a mandatory tender offer for up\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/432.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566126,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/speed-medical-quits-bidding-war-for-alex-medical\/","url_meta":{"origin":556517,"position":2},"title":"Speed Medical quits bidding war for Alex Medical","author":"enterpriseam admin","date":"30 May 2021","format":false,"excerpt":"Speed Medical is no longer part of a consortium bidding for 100% of Alexandria Medical Services, the EGX-listed medical diagnostics firm said in a statement (pdf), adding that it would instead be looking for new investments that it could consolidate on its balance sheet. Speed was after a 10% stake\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/481.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565627,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/20\/its-official-4-investors-are-in-the-bidding-war-for-alex-medical\/","url_meta":{"origin":556517,"position":3},"title":"It\u2019s official: 4 investors are in the bidding war for Alex Medical","author":"enterpriseam admin","date":"20 April 2021","format":false,"excerpt":"Healthcare investment firm Seha Capital is the latest to throw its hat in the ring for Alexandria Medical Services as Abu Dhabi Commercial Bank(ADCB) looks to offload its 51.54% stake, Alex Medical said in an EGX disclosure (pdf).The company is now officially being courted by four bidders: EGX-listed Cleopatra Hospitals\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566328,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/earnings-emaar-misr-alex-medical-more-than-double-net-income-in-1q2021\/","url_meta":{"origin":556517,"position":4},"title":"Earnings: Emaar Misr, Alex Medical more than double net income in 1Q2021","author":"enterpriseam admin","date":"13 June 2021","format":false,"excerpt":"EARNINGS WATCH- Emaar Misr\u2019s consolidated net income more than doubled in 1Q2021 to EGP 529.1 mn, up from EGP 247.6 mn in the same quarter last year, according to the real estate developer\u2019s financials (pdf). The jump came as revenues soared during the first quarter of the year to EGP\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549515,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/20\/another-bidder-is-back-for-alex-medical\/","url_meta":{"origin":556517,"position":5},"title":"Another bidder is back for Alex Medical","author":"enterpriseam admin","date":"20 September 2022","format":false,"excerpt":"Yas Holding relaunches its bid to acquire Alex Medical: The UAE\u2019s Yas Holding (formerly known as Emirates Advanced Investments) appears to be reentering the bidding war for Alexandria Medical Services. 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