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Shares in hospital operator Wakefield Health soared 9 per cent yesterday as Masthead Investments snapped up 15.1 per cent of the company.
Just over 3 million shares worth $28.7 million changed hands, sending the stock up 75c to a record $9.
Masthead - which launched an unsuccessful partial bid for Abano Healthcare last year - bought shares from AMP Capital Investors and Cushing family interests for $9 each. AMP, Wakefield's second-biggest shareholder, cut its stake from 13.55 per cent to 10.98. The fourth biggest, John and David Cushing, reduced their interests from 7.19 per cent to 1.96.
David Cushing, a Wakefield director since May 2006, resigned yesterday. Forsyth Barr broker David Price said it was hard to say if Masthead was attempting a takeover.
