Private equity group CVC walks away from $1.83b APM bid

Private equity group CVC Asia Pacific has walked away from a $1.83 billion buyout proposal for APM Human Services, which helps people find jobs and is a provider of services to the National Disability Insurance Scheme.

APM has had a spectacular fall from grace after listing on the ASX in late 2021 at $3.55 per share. The company went into a trading halt on Wednesday morning after receiving an official letter from CVC advising they could not proceed with the $2-per-share proposal.