Herbert Smith Freehills and Allens have picked up roles on KKR’s proposed bid to acquire Australian hospital operator Ramsay Health Care Limited, in a proposed $14.9 billion deal.

According to a statement by Ramsay Health Care on Wednesday, the U.S. private equity giant is proposing to acquire 100% of the company, with the indicative proposal anticipating shareholders to receive A$88.00 per share.