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CMA clears CareTech's £372m acquisition of Cambian

Fri, 08th Feb 2019 08:01

(Sharecast News) - The Competition and Markets Authority has unconditionally cleared CareTech's £372m acquisition of Cambian Group.AIM-listed CareTech, which provides specialist social care and education services, said on Friday that it welcomes the announcement from the CMA.Chairman Farouq Sheikh said: "We are delighted by the CMA's decision and would like to place on record our appreciation to all involved during the CMA process particularly the executive teams at CareTech and Cambian."We will now move forward with the integration, creating value for all our stakeholders through the highest quality service offerings and significant synergies."The deal - which was agreed back in August 2018 - completed on 19 October but because of the CMA's inquiry CareTech has been operating the Cambian business separately.Liberum said: "While we expected this result given the lack of overlap between the businesses, we believe it was still an overhang on the shares which have performed poorly over the past couple of months."We continue to view the business as deeply undervalued. CareTech has a best in class management team and post today's announcement it can begin to integrate Cambian, extract meaningful synergies and raise margins at the business to a level more in line with the current CareTech business."
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24 Jul 2018 14:16

UPDATE: CareTech Holdings Revises Offer To Acquire Cambian Group

LONDON (Alliance News) - Social care services provider CareTech Holdings PLC said on Tuesday it has submitted a revised proposal for the acquisition of children's service provider Cambian the

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24 Jul 2018 12:26

CareTech Holdings Revises Offer To Acquire Cambian Group

LONDON (Alliance News) - Social care services provider CareTech Holdings PLC said on Tuesday it has submitted a revised proposal for the acquisition of children's service provider Cambian the

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14 Jun 2018 13:30

CareTech Lifts Dividend Payment On Interim Profit Jump

LONDON (Alliance News) - Social care services provider CareTech Holdings PLC on Thursday lifted its dividend payment as it posted a 21% jump in first half pretax profit on the back of lower costs,

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10 May 2018 14:11

CareTech Confident As It Performs "Solidly" In First Six Months

LONDON (Alliance News) - CareTech Holdings PLC on Thursday said trading for its recently ended first half has met expectations, underpinned by its recent strategic initiatives.Net capacity

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6 Mar 2018 13:45

CareTech Holdings Confident Going Forward As It Performs In Line

LONDON (Alliance News) - CareTech Holdings PLC said Tuesday at its annual general meeting performance in its year so far has been in line with expectations.The social

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16 Jun 2016 07:45

CareTech Notes Shift To Higher-Margin Services After Profit Rises

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22 Apr 2016 07:26

CareTech Posts In-Line Update, As Acquisitions Performing Well

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15 Mar 2016 09:13

CareTech Acquires Brain Injury Specialist Oakleaf For GBP20.3 Million

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1 Mar 2016 15:11

Tuesday broker round-up

(ShareCast News) - Rightmove: Canaccord downgrades to hold with a target price of 4100p and Deutsche Bank reiterates hold with a target price of 3200p. IAG: HSBC reiterates hold with a target price of 620p and Investec maintains buy, 740p target. Rio Tinto: RBC upgrades to sector perform with a tar

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23 Feb 2016 16:08

AGM, EGM Calendar - Week Ahead

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19 Feb 2016 09:41

CareTech raises £30m in ground rent agreement

(ShareCast News) - Social care provider CareTech said it had raised £30m in cash to support its growth strategy through a ground rent deal. Under the terms of the agreement, the freehold to 41 CareTech properties will be transferred to Alpha Real Capital's managed funds in exchange for the cash and

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19 Feb 2016 08:18

CareTech Strikes Ground Rent Deal To Raise GBP30 Million

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8 Dec 2015 07:59

CareTech Profit Dips On Costs, But Revenue Ticks Higher

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1 Dec 2015 09:34

CareTech expands to acquire ROC North West

(ShareCast News) - CareTech Holdings will acquire ROC North West and all of the children's residential properties which it operates from for up to £11.425m. The AIM-listed specialist social care services provider announced the deal on Tuesday. It said it will pay an initial cash payment of £8.725m,

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1 Dec 2015 09:17

CareTech Acquires ROC North West For Up To GBP11.4 Million

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