More and more companies are battening down the hatches as the coronavirus banks and crackdowns escalate. Property developer Stockland, gambling and gaming giant Tabcorp, and health insurance firm NIB are among the latest to mothball earnings guidance while Ardent Leisure and Village Roadshow have shut their Gold Coast theme parks.
Nib Holdings ((NHF)) will acquire specialist corporate health insurer Grand United Corporate Health for $155.5m. Brokers are positive about the acquisition as it expands coverage in a growing segment, yet nib still faces an uncertain outlook in mainstream private health insurance.
Shares in health insurer nib Holdings went into a trading halt yesterday after revealing plans for a capital raising to fund a $155.5 million acquisition of corporate health insurance provider GU Health.