6 Jul 2011

Formal takerover offer to be made

12:20 pm on 6 July 2011

Wakefield Health says it will make a formal takeover offer for Norfolk Investments this month.

The majority of Norfolk's shareholders have signalled they intend to accept an offer, if made.

Wakefield is offering $3.80 per share, valuing the company at $24.2 million.

Under the Takeovers Code, the earliest date that Wakefield can proceed with any formal offer is 20 July.