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2 clusters · 4 sources · 4 days · First seen · Last updated

Spire Healthcare takeover by investment consortium

Overview

Spire Healthcare, the largest private hospital operator in the United Kingdom, has agreed to a takeover by an investment consortium. The deal, valued at approximately £1.03 billion ($1.39 billion), will result in the company being taken off the London stock market.

The acquisition is being executed through a newly established vehicle, Tulip UK, which is backed by funds managed or advised by Toscafund Asset Management, THCP Advisory, and Ares Management. Under the terms of the agreement, shareholders will receive 250p per share, representing a premium of roughly 66% over the company’s market capitalization as of May 13.

Following the completion of the acquisition, Tulip UK intends to conduct a review lasting up to 12 months. This review will assess Spire’s primary care operations, which may lead to the disposal of parts of the private GP business and potential workforce reductions.

Entities

Spire Healthcare Group · Spire Healthcare · Toscafund Asset Management · Ares · THCP Advisory

Timeline

  1. 5 days ago

    [BUSINESS] 3 sources
    Spire Healthcare agrees to £1bn takeover by investment consortium

    Spire Healthcare will be taken private in a £1.03 billion takeover by a consortium led by Toscafund Asset Management, THCP Advisory, and Ares Management.

  2. 8 days ago

    [BUSINESS] 2 sources
    Spire Healthcare agrees to £1.03 billion takeover

    Spire Healthcare Group has agreed to a £1.03 billion takeover by a consortium including Toscafund, Three Hills, and Ares, representing a 66% premium over its previous market capitalization.

Sources

ca.sports.yahoo.com · hedgeweek.com · srnnews.com · stocknews.com