IFM Investors’ PRP Diagnostic Imaging has withdrawn from its acquisition of South Australia’s Benson Radiology.
PRP in early December ousted rival buyout firm Crescent Capital Partners to secure exclusivity over Benson Radiology with a $400 million winning bid. It was a surprise move given IFM’s private equity unit had been given packing orders by the mothership a few weeks before.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com