Michael Anghie-led APM Human Services International has entered a trading halt, pending an update regarding its non-binding acquisition proposal from US-based Madison Dearborn Partners.
APM Human Services International's board has unanimously rejected a takeover bid from CVC Asia Pacific Limited, saying the offer didn't reflect the company's true value.
A series of share transfers and company restructures over the past six months mean that Andrew and Nicola Forrest will have a roughly equal split of their $34 billion fortune.
Resources billionaire Gina Rinehart has been named Australia's wealthiest person for a third consecutive year, followed closely by fellow Western Australian and iron ore magnate Andrew Forrest.
Perth business woman Megan Wynne attracted national headlines last month when she was hailed as Australia's newest billionaire, yet recent disclosures by her company indicate that was never the case.
Shares in mega stock market float APM Human Services International made a soft start today, falling slightly but still leaving the company worth more than $3 billion.
West Perth-based human services company APM has appointed Goldman Sachs and Gilbert + Tobin to assess a stockmarket float likely to be worth in excess of $1.5 billion.
