June 25 (Reuters) – UK’s Spire Healthcare said on Thursday that the deadline for Toscafund Asset Management to make a formal takeover bid for the private hospital operator has been extended for a second time to July 9 from June 25. Here are some details: • A successful deal would give Toscafund, already Spire’s second-largest […]
Health
Spire Healthcare takeover deadline for Toscafund extended to July 9
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June 25 (Reuters) – UK’s Spire Healthcare said on Thursday that the deadline for Toscafund Asset Management to make a formal takeover bid for the private hospital operator has been extended for a second time to July 9 from June 25.
Here are some details:
• A successful deal would give Toscafund, already Spire’s second-largest shareholder, control of the company
• The asset manager tabled its 250 pence-per-share proposal on May 14, a 66% premium to Spire’s previous close, valuing the company at about £1 billion ($1.32 billion)
• The asset manager built a near-11% stake in Spire while opposing Ramsay Health Care’s 250 pence-per-share proposal in 2021; it has now made a bid at the same price
• The original deadline for a deal under British takeover rules was June 11
($1 = 0.7594 pounds)
(Reporting by Anushka Chourasia in Bengaluru; Editing by Eileen Soreng)