Takeover target Integral Diagnostics has warned shareholders to...

Takeover target Integral Diagnostics has warned shareholders to take no action as the group waits for an amended bidder's statement from smaller rival, Capitol Health, while revealing it has made progress during first half of the year.
The company received an unsolicited $356 million hostile bid in late November, valuing the company at $2.46 per share.
But based on Thursday's market closing figures, the deal values Integral at $2.29 a share.
Capitol is offering 6.9 Capitol shares and 36¢ cash for each Integral share. This represents a 21 per cent premium to Integral's share price before the bid was lobbed.
On Friday, the diagnostic imaging company said revenue was up 5.7 per cent to $93.6 million in the six months ended December 31, while reported net profit was down 4.7 per cent to $8.3 million. After adjusting for transaction and take over response costs, underlying NPAT was up 22.7 per cent to $9.2 million.
The first-half underlying results are a material improvement in operating margin and across all financial performance metrics.
Integral earlier in January announced a major upgrade to full year normalised net profit guidance, tipping 20 per cent growth. Previous guidance was for "high single-digit growth".
Ord Minnett estimated growth of 12 per cent. The upgrade has been driven by accelerating growth in referrals, particularly in WA, and successful implementation of the cost-cutting program, and a reduction of effective tax rate.
New CEO Ian Kadish said he was pleased with the first-half results as he delivered on his strategy.
"The year-on-year improvement has been impressive and has been driven by integrating the three businesses into one cohesive operation, with strong medical leadership focused on quality care and service.
The stock is @ $2.31.