Healius (ASX:HLS) has received an off-market takeover bid from diagnostic testing business Australian Clinical Labs (ASX:ACL) to create Australia's largest pathology services provider.
The Board of Healius has advised shareholders to take no action until the Board has evaluated the offer of 0.74 ACL shares for each Healius share, and provided a recommendation.
On completion of the proposed merger, Healius shareholders would own 68% of the combined group and 32% would be owned by ACL shareholders.
Following the announcement, shares of Healius were up 10%.