5 shares you need to watch on Wednesday

Capitol Health (ASX:CAJ) has launched a takeover offer for Integral Diagnostics (ASX:IDX)

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The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) appears set to rally higher this morning following a strong night for international markets. The ASX 200 could push for a fresh high with the futures market pointing to a 40-point gain at the open.

Here's a quick recap:

  • FTSE 100 (UK): up 1.04%
  • DAX (Germany): up 0.46%
  • CAC 40 (France): up 0.57%
  • Dow Jones (USA): up 1.09%
  • NASDAQ (USA): up 0.49%

The Capitol Health Ltd (ASX: CAJ) share price and Integral Diagnostics Ltd (ASX: IDX) share price will likely receive some attention today.

This morning, Capitol Health announced its intention to launch an off-market takeover offer for Integral, offering 6.9 fully paid ordinary shares in Capitol and $0.36 cash for each ordinary share in Integral. That implies a value of $2.46 per Integral share, representing a premium of more than 30% above Integral's last closing price. Assuming it goes ahead, Capitol said the merger will create "one of Australia's leading providers of diagnostic imaging services through its combined network of clinics and hospital practices".

SYNLAIT FPO NZX (ASX: SM1) could also receive some attention. It announced this morning that long-time CEO and founder John Penno intends to step down from his position in the next 12 months, as part of an orderly transition to position the business for its next growth phase.

Empired Ltd (ASX: EPD), whose shares fell 4.7% on Tuesday, said it expects its underlying earnings (EBITDA) to be between $7 million and $7.3 million for the first-half of FY2018. It's also expecting a 'modest' revenue increase.

And Praemium Ltd (ASX: PPS) announced that it has signed its first client for its new administration service. Praemium's shares have risen 36% so far in 2017.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Ryan Newman owns shares of Amazon. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Amazon. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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