WESFARMERS' wholly-owned subsidiary, Australian Pharmaceutical Industries, on Wed announced the completed acquisition of SILK Lasers, which will be folded into the Wesfarmers Health division (PD 20 Apr).
Shareholders of SILK were paid $3.35 per share ($3.25 under the scheme consideration, plus a 10c per share special dividend), a rise from the $3.15 per share offer Wesfarmers made in Apr, The Australian has reported.
The revised offer values the company at about $180m with SILK last trading at $3.34.
Hong Kong-listed EC Healthcare was reported to have made a bid similar to Wesfarmers' accepted bid in May of this year.
SILK has more than 140 clinics across Australia and New Zealand and offers cosmetic services such as laser hair removal, fat reduction and cosmetic injections.
Wesfarmers Health Managing Director Emily Amos said, "through this acquisition, we are looking to build a leading medical aesthetics operator in Australia and New Zealand".
"We see strong operational and cultural alignment between our businesses and look forward to working with the SILK team and SILK's joint venture and franchisee partners to support their customers and deliver continued growth."
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