Buyout firm Bridgepoint is drawing up proposals for a formal offer worth more than 1 billion pounds ($1.34 billion) for British private hospital operator, Spire Healthcare, Sky News reported on Thursday.
The 230-pence-a-share bid is unlikely to be made ahead of a deadline of 5 p.m. local time on Saturday, the report said, adding that a further extension to the process is considered likely.
Spire, which has a market valuation of about $950 million, said in January it held early-stage talks with several buyout firms, including Bridgepoint and Triton Partners, to “explore strategic options”. The announcement had then boosted its shares by as much as 20%.
While Spire declined to comment on a Reuters request, Bridgepoint did not respond outside regular business hours. Reuters could not independently verify the report.
Sky News had previously reported that Spire was in talks with several firms for a deal that could result in the hospital operator being taken private.
Spire operates several hospitals, clinics, medical centres and consulting rooms across England, Wales and Scotland.
Source: Reuters.com