Private equity takeover talks boost shares in private hospital and GP practices operator Spire Healthcare
Shares in Spire Healthcare shot up by nearly a fifth after it revealed it is in talks with private equity suitors about a possible takeover.The FTSE 250 company, which runs private hospitals and GP practices, revealed over the weekend it is inconversation with potential buyers, including Bridgepoint Advisers and Triton Investment Advisers.‘These discussions remain at a preliminary stage,’ a Spire spokesman said, adding: ‘There can be no certainty that any offer will be made for the company, nor as to the terms of any offer, if made.’Shares jumped more than 20 per cent in early trading before closing up 17.9 per cent to give it a value of around £850million.It is thought, however, that a takeover deal could value it at £1.5billion. The talks come after Spire effectively put itself up for sale in September when it launched a strategic review of its operations. Talks: Spire Healthcare , which runs private hospitals and GP practices, revealed over the weekend it is in discussions with potential buyersIt sets the scene for yet another London-listed company to disappear from the stock market following a wave of takeovers in recent years.Spire is not the only company being targeted, too. Lloyd’s of London underwriter Beazley last week turned down a fifth offer from Zurich Insurance worth £7.7billion, and online auction house Auction Technology Group is attempting to fend off a string of bids from its largest shareholder FitzWalter Capital. Meanwhile, the bosses of Rio Tinto and Glencore are in talks over a £200billion mega-merger to create the world’s largest miner and copper powerhouse.Spire is among the UK’s largest private healthcare groups, running 38 hospitals and more than 50 clinics across England, Scotland and Wales.In September, following pressure from shareholders, it launched a review of its operations with bankers at Rothschild & Co, arguing it is ‘undervalued by the market’.That sent shares up 14 per cent in a day, but a profit warning in December sent them tumbling once more.Under City takeover rules, Bridgepoint and Triton have until February 21 to table a formal offer for the company or walk away.DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
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Private equity takeover talks boost shares in private hospital and GP practices operator Spire Healthcare
