Hong Kong minnow EC Healthcare has topped Wesfarmers’ offer for Silk Laser Australia, offering $3.35 a share in cash for the country’s largest network of laser hair removal and botox clinics, valuing it at $178 million.
In April, Wesfarmers-owned Australian Pharmaceutical Industries pitched an agreed offer at $3.15 a share, a 30.2 per cent premium to Silk’s price at the time.
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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
