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NMC Health confirms preliminary takeover approaches from KKR, GK Investment

NMC Health PLC said it received preliminary approaches to be acquired by New York-based private equity firm KKR & Co. Inc. and Switzerland's GK Investment Holding Group SA.

Following NMC's confirmation of the approaches, the company's stock price rose 9.03% to 763.20 pence as of 10:17 a.m. London time.

The parties have not discussed any potential offer, Abu Dhabi-based NMC said in a Feb. 10 news release. KKR and GK each have until March 9 to make an offer.

In a separate release, London-listed NMC said Bavaguthu Raghuram Shetty, its joint nonexecutive chairman, and his advisers are reviewing the holdings and interests held by him, Vice Chairman Khaleefa Al Muhairi and another shareholder, Saeed Al Qebaisi, as they may have been incorrectly reported historically.

Shetty holds a 15.88% stake in NMC as of Feb. 10, according to S&P Global Market Intelligence data. Meanwhile, Al Muhairi owns an 8.82% shareholding in the company, while Al Qebaisi has a 1% stake.

Al Muhairi and Al Qebaisi previously sold £375 million worth of the company's common stock, according to a Jan. 8 Reuters report. The share sale followed a report by U.S. short-selling firm Muddy Waters LLC accusing NMC of a number of deficiencies, which the company has denied.

NMC said its board has asked Shetty, Al Muhairi and Al Qebaisi for clarity on the aforementioned issues, and to absent themselves from further board discussions until a decision about their roles as directors is reached.