London's Spire Healthcare gets $1.35 billion buyout proposal from Toscafund
Spire Healthcare Receives Buyout Proposal: Key Details and Background
May 14 (Reuters) - British private hospital group Spire Healthcare said on Thursday it received a buyout proposal worth 1 billion pounds ($1.35 billion) from its second-largest shareholder, Toscafund Asset Management.
Spire's board said it would recommend the potential cash bid to shareholders if Toscafund tables a formal offer.
Buyout Proposal Highlights
Here are some details:
Offer Premium and Shareholder Information
• The 250 pence per share proposal represents a premium of about 66% to Spire's last closing price.
Toscafund's Role and UK Takeover Rules
• Activist investor Toscafund is required to either announce a firm intention to make an offer by June 11 or walk away, under UK takeover rules.
Background of the Acquisition Process
• The proposal follows a prolonged search for a buyer. Spire confirmed in January that it was conducting preliminary discussions with investment firms Bridgepoint and Triton regarding a potential takeover but Triton pulled out in March.
Spire Healthcare's Operations and Performance
Hospital and Clinic Network
• The company operates 38 hospitals and over 60 clinics across England, Wales and Scotland, delivering care to over 1.36 million patients in 2025.
Financial Performance and Outlook
• Spire separately said that trading in the first four months of the year to April 2026 has been in line with its expectations and it continues to target fiscal 2026 adjusted core profit broadly in line with its fiscal 2025 numbers.
Additional Information
($1 = 0.7398 pounds)
(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Mrigank Dhaniwala and Nivedita Bhattacharjee)
