Spire Healthcare Extends Takeover Bid Deadline for Toscafund
The private hospital operator has granted hedge fund Toscafund more time to finalize its £1 billion acquisition offer.
Business & Markets • 3 months ago
Spire Healthcare has granted hedge fund Toscafund an extension to its deadline for finalizing a £1 billion takeover offer. The new deadline for Toscafund and its founder, Martin Hughes, to complete the 250 pence-per-share bid is set for 5 p.m. on August 6, an extension from the original deadline of yesterday.
Toscafund, established in 2000 by Hughes, who is known for his assertive deal-making tactics, is Spire Healthcare's second-largest shareholder. Spire operates 38 hospitals and over 60 clinics across England and Wales, treating approximately 1.4 million patients annually. The company is a leading private provider of knee and hip replacement surgeries by volume and also offers workplace health services to around 1,400 employers.