Spire Healthcare Receives 1.35 Billion Dollar Buyout Bid
Spire Healthcare received a 1 billion pound buyout bid from Toscafund. The board will recommend the offer if it is formalized before the June deadline.
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SPIRE HEALTHCARE GROUP PLC received a £1B ($1.35B) buyout proposal from second-largest shareholder Toscafund Asset Management. The 250 pence per share offer represents a 66% premium to the last closing price. This follows a failed search for a buyer after talks with Bridgepoint and Triton collapsed.
Spire Healthcare's board said it would recommend the cash bid if Toscafund tables a formal offer. Under UK takeover rules, Toscafund must announce a firm intention to proceed or withdraw by June 11.
