When Ramsay Health Care boss Craig McNally got a phone call in the middle of the night last Monday while asleep in his Norway hotel, it could only be one thing: suitor KKR & Co was playing hardball again.
It was meant to be the biggest M&A deal of the year, valuing its equity at $20 billion, or nearly $30 billion including debt, but has turned into a train wreck. After the better part of two years stalking the nation’s largest private hospitals operator, the global PE firm is still empty-handed.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
