Shoosmiths is advising the Independent Non-Executive Directors of Integrated Diagnostics Holdings plc (IDH) in connection with an unrecommended mandatory final cash offer by Hena Holdings Ltd, which values the entire issued and to be issued ordinary share capital of IDH at approximately US$290.7 million.

Published: 13 July 2026

IDH is a leading provider of diagnostic services across the Middle East and Africa, with operations in Egypt, Jordan, Nigeria, Saudi Arabia and Sudan. The company is listed in the equity shares (transition) category of the Official List.

In accordance with the terms of the offer, IDH shareholders have until 1.00 p.m. on 29 July 2026 to decide whether to accept the offer.

The Shoosmiths Corporate team is being led by Partner Ed Nisbet and Partner Nick McCarthy, and supported by Principal Associate Ian Lawton and Paralegal Adam Stockton.

On the announcement of the mandatory takeover offer, Ed Nisbet commented: “We are delighted to be advising the Independent Non-Executive Directors of IDH on this significant public takeover matter. Transactions governed by the Takeover Code require careful navigation of complex legal and regulatory considerations, and it is a privilege to support the Independent Board through this important process.

“It is another example of the sophisticated and sensitive corporate matters Shoosmiths has advised on where we have supported our clients, from listed companies, boards and shareholders, on public M&A transactions.”

The Shoosmiths team is working in conjunction with Strand Hanson, IDH’s financial and Rule 3 adviser, on the offer.

The transaction is notable as the mandatory offer arose following Hena's acquisition of a significant shareholding in IDH, triggering an obligation under Rule 9 of the UK Takeover Code. For various reasons, including the offer price, which was determined in accordance with the Takeover Code, being below the prevailing market price at the time, the Independent Non-Executive Directors concluded that they were unable to recommend the offer to shareholders.