Allied admits Supporta interest

Dec 23, 2009

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AIM-quoted Allied Healthcare International Inc has admitted that it is the other potential bidder for home care provider Supporta.

Allied has submitted an indicative cash offer for Supporta and is talking to the company's management and advisers. The offer is subject to due diligence. The fact that it is a cash offer may make it attractive to many shareholders.

On 18 December, Supporta agreed an all-share merger with social housing maintenance group Mears. That deal was worth approximately £27.2m and valued each Supporta share at 31p.

Yesterday, Romac Investments, Supporta's main shareholder with a 28.2% stake, urged it to consider a cash offer for the company, adding that it was "very surprised" that Mears' offer had been recommended by Supporta's board.

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