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LONDON - Induction Healthcare Group PLC (Induction), a healthcare technology company, is set to be acquired by VitalHub UK Limited (Bidco), a subsidiary of VitalHub Corp., through a court-sanctioned scheme of arrangement. This acquisition follows an agreement between the boards of both companies announced on April 10, 2025.
The transaction will involve Bidco acquiring the entire issued and to be issued ordinary share capital of Induction. As of the close of business on April 22, 2025, Induction has received additional irrevocable undertakings from Long Light Capital LLC to vote in favor of the scheme at the upcoming Court Meeting and the Resolution at the General Meeting. These undertakings represent approximately 4.26% of Induction’s issued share capital.
With the latest commitment from Long Light Capital, the total number of Induction shares now under irrevocable undertakings or non-binding letters of intent has reached about 48.55% of its issued ordinary share capital.
The acquisition is set to proceed under Part 26 of the Companies Act 2006, with the terms and conditions outlined in the initial announcement on April 10, 2025. This strategic move is subject to the approval of Induction’s shareholders and the sanctioning of the scheme by the court.
The announcement is made in compliance with Rule 2.10(c) of the City Code on Takeovers and Mergers, and the information is based on a press release statement. The acquisition is poised to reshape Induction’s ownership structure, pending the fulfillment of the scheme’s conditions and the receipt of the necessary shareholder and court approvals.
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