Primary Health Care (PRY) has once again extended its offer period for its proposed $2.65 billion takeover of Symbion Health (SYB).
Primary's offer was due to close on January 7 but will now remain open two weeks longer until January 21.
As of December 20 Primary now owns a 35.13% interest in Symbion and is battling tooth and nail to acquire all remaining shares.
On November 8 Primary offered $4.10 per Symbion share, claiming this offer is compelling as shares in Symbion have traded below this level since that date.
Primary's offer is conditional upon achieving the acceptances of 90% of Symbion shareholders.
If Primary is successful in convincing Symbion to sell, this would effectively make Primary Australia's largest health-care company.
Nevertheless, Primary is vying against private hospitals operator Healthscope for control of Symbion's diagnostics businesses.
To date, Healthscope has acquired a 11.91% stake in Symbion, which has allowed it to have an active role determining control of the company.
Healthscope has made two unsuccessful attempts to acquire Symbion's diagnostic assets, the first of which was snuffed by Primary and the second by ruling made by the Australian Taxation Office.
Earlier this month Healthscope said it may yet make its own takeover bid for Symbion.
Shares in Primary fell by 3 cents to $11.87 by 1:115PM AEST, while shares in Symbion remained flat at $3.99.
