Calvary Health Care Limited made an offer to acquire Japara Healthcare Limited (ASX:JHC) for approximately AUD 270 million on April 30, 2021. As per terms of the transaction, Calvary Health Care Limited will pay AUD 1.04 per share. On June 5, 2021, Health Care Limited made a revised offer to acquire Japara Healthcare Limited for approximately AUD 320 million. Health Care Limited will acquire the shares at AUD 1.2 per share. As of July 27, 2021, offer price was revised to AUD 1.4 per share. There is a break fee and reverse break fee of 1% of total consideration. The Indicative Proposal is subject to several conditions, including completion of due diligence, negotiation and execution of a binding scheme implementation agreement, court approval, approval of Board of Calvary Health Care and a unanimous recommendation by the Japara Board. As of October 25, 2021, e Federal Court of Australia approved the deal. As of April 30, 2021, shareholders do not need to take any action in relation to the indicative proposal. As of June 7, 2021, the shareholders do not need to take any action in relation to the revised indicative proposal. As of June 15, 2021, competing bid was announced. As of July 27, 2021, Board of Directors Unanimously recommended the transaction. As on September 17, the court approved the scheme meeting convening. Transaction is approved by the shareholder of Japara Healthcare Limited. The Scheme remains subject to the approval of the Federal Court of Australia at a hearing scheduled on October 25, 2021 and certain other conditions precedent as described in the Scheme Booklet. implementation date is November 5, 2021. Record date is set to late October and implementation is expected in early November. Macquarie Group Limited (ASX:MQG) acted as financial adviser and Michael Ziegelaar of Herbert Smith Freehills acted as legal adviser to Japara Healthcare Limited. Jefferies LLC acted as financial advisor to Calvary Health Care Limited.