March 14 (Reuters) – Australia’s Virtus Health Ltd said on Monday it had accepted a sweetened A$704.8 million ($514 million) takeover offer from CapVest Partners LLP, which topped an improved offer from rival bidder BGH Capital.However, the months-long bidding war for the in vitro fertilization service provider was not necessarily over as the deal with London-based CapVest allows the Virtus board to consider a superior proposal from Melbourne-based BGH or another party.CapVest’s revised cash offer of A$8.25 per share is a 7% premium to Virtus’s Thursday close and a 58% premium to its close on Dec. 13, before the bidding war broke out.Register now for FREE unlimited access to Reuters.comThe deal, unanimously recommended by the company’s board, knocks out a A$8.10 per share offer from Melbourne-based BGH Capital made after the market close on March 10. That offer was conditional on Virtus not signing an implementation deed with London-based CapVest.The latest CapVest deal includes a potential simultaneous off-market takeover offer, if it does not reach the required minimum threshold of 50% shareholder acceptance.Virtus’ share price has jumped around 64% since the end of 2019. read more ($1 = 1.3723 Australian dollars)Register now for FREE unlimited access to Reuters.comReporting by Savyata Mishra in Bengaluru; Editing by Richard Chang and Jane WardellOur Standards: The Thomson Reuters Trust Principles. .
