Wakefield Health is a step closer to gaining control of the Norfolk Group.
The private hospital firm says Norfolk shareholders representing more than 70% of the stock will accept an offer, if made, of $3.80 per share in cash.
The Norfolk Group owns 60% of the Grace Hospital in Tauranga, with the balance owned indirectly by Southern Cross Hospitals.
Wakefield says it will now conduct due diligence with the aim of making a formal offer next month.
