UBS was ringing around offering institutional investors a 36 per cent premium for the $121 million Virtus Health stake and, from what we hear, had little trouble finding sellers.
The brokers were working to a 7pm deadline, but fund managers were being turned down not long past 6pm.
It looks likely the mystery buyer will make a play for the rest of Virtus. Our tip is it will be a fund familiar with the space – how else would you get comfortable buying up such a large stake with no due diligence requirement?
Two big bids are expected to sail into GeelongPort owners Brookfield and State Super on Tuesday, as a pair of infrastructure investment rivals square off.
