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IBA Health Bid for iSoft

05/07/2007

IBA Health (IBA.AX), Australias largest listed eHealth company have made a bid for iSoft (IOT.L).

iSoft are developing key software for the UK National Health Service major £12.4bn IT program being implemented by Computer Sciences Corp (CSC NYSE)

The bid was originally blocked by CSC but has now been given their approval. IBA Health have recently raised AUD145.4 through a 2:5 rigts issue and AUD54.4 through a placing.

The offer is on the basis of 1.1 IBA shares for each iSoft share.
To calculate the value of iSoft shares you need to multiply the share price in Australia (currently Au$1.21) by 1.1 and divide this figure by the £/u$ rate (currently 2.3480)
As we write this equates to 56.7GBP and the current iSoft share price is 54.25-54.5GBP.

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