NorthWest Healthcare Properties REIT raises offer for Australian trust

TORONTO – NorthWest Healthcare Properties Real Estate Investment Trust is raising its hostile takeover offer for Australian Unity Healthcare Property Trust.

In what it is calling its best and final offer, the Toronto-based trust says it will pay A$2.70 per wholesale unit, A$2.76 per retail unit and A$1.69 per class A unit in cash.

The offer is up from an earlier bid of A$2.55 per wholesale unit, A$2.61 per retail unit and A$1.62 per class A unit.

AUHPT owns 62 hospitals, medical office buildings and other health-care facilities.

The Australian trust, which urged unitholders to reject the earlier offer, says it will assess the latest proposal and make a recommendation.

NorthWest Healthcare holds a portfolio with interests in 186 properties in Canada, Brazil, Europe, Australia and New Zealand.

This report by The Canadian Press was first published June 16, 2021.

Companies in this story: (TSX:NWH.UN)