Excitement has returned to the Ramsay Health Care Limited (ASX: RHC) share price amid a $20 billion takeover bid.
The news hitting the headlines yesterday was met with eagerness as investors snapped up shares in the healthcare giant. In turn, the $88 per share offer made by the KKR consortium reignited the Ramsay fuse — converting the share price from a dormant slow mover into a flaring firecracker.
As the two conduct their due diligence, a major Ramsay shareholder is said to have already thrown their support behind the deal. However, with ASX-listed Ramsay Health Care shares having been out of the limelight for a while, onlookers might be wondering: Who are the major shareholders in Ramsay Health Care?
Let's take a look.
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Standing in the way of a $20 billion payday
There are plenty of hurdles to be cleared before the indicative proposal reaches Ramsay shareholders. Currently, the process is still in the first innings, with satisfactory due diligence yet to be finalised.
However, assuming the scheme arrangement ticks all the other boxes, including approval by the Foreign Investment Review Board, then shareholders of Ramsay Health Care will have the final say. So, what does the share registry look like?
The five largest shareholders in ASX-listed Ramsay Health Care hold roughly 30.5% of the total equity in the company. It stands to reason that these shareholders will play an important role in approving the bid.
Notably, the largest shareholder is Paul Ramsay Holdings Pty Ltd, with an 18.88% shareholding. The holding company contains the late founder's shares. These shares, valued at more than $3 billion, are held as a bequest to the Paul Ramsay Foundation.
The other four largest shareholders are as follows:
- BlackRock Inc – 5.05%
- The Vanguard Group Inc – 3.73%
- Michael Siddle – 1.71%
- Norges Bank Investment Management – 1.15%
How many retail investors hold Ramsay Health Care on the ASX?
While it appears that the power of the decision lies in the hands of a few large investment banks and a foundation, there are still plenty of retail investors on board as well.
At the time of writing, the general public constituted 61.5% of ownership in Ramsay Health Care. That means as a cohort, retail investors will hold more say in the final decision than the top five largest shareholders.
As an ASX-listed investment, Ramsay Health Care shares have returned 24.5% over the past five years. This is beefed up from 12.6% thanks to the contribution made by dividends.
