This article is from the Australian Property Journal archive
ING Real Estate Healthcare Fund has withdrawn its merger bid for the Orchard Funds managed Essential Healthcare Trust.
The proposal was subject to a due diligence and included a number of key conditions, certain of which could not be met in the timeframe provided.
IHF said it will continue to evaluate options in the market that generate value to unit holders and are aligned with its strategy of providing investors with exposure to high quality healthcare assets in Australia and New Zealand.
The collapsed merger is not good news for Orchard after Cromwell withdrew its $15 million bid for Orchard and its managed funds.
Australian Property Journal
