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IKang Healthcare to re-evaluate merger proposal; shares slip 1% after hours

Published 09/07/2018, 04:44 PM
© Reuters.  IKang Healthcare to re-evaluate merger proposal; shares slip 1% after hours
KANG
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  • IKang Healthcare Group (NASDAQ:KANG) reports that the parent and merger sub have decided to reassess the commercial viability of the proposed go-private transaction and has requested an extension of the termination date to October 31 (from September 26).
  • The board says that, if the merger process is delayed further, it will face the maturity of $124.23M in convertible loans in December. It says it lacks sufficient cash for repayment.
  • Shares are down 1% after hours.
  • Now read: Merger Arbitrage In One Place


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