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Prices & Quotes - UK Markets - Spire Healthcare Group (SPI)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
230.50p
Change Today:
0.000p
Market Cap:
924.54m
Sector:
Medical Equipment and Services

Shareholders oppose Ramsay's takeover of Spire Healthcare

By Michele Maatouk

Date: Monday 19 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Spire Healthcare shareholders have voted against the company's 1.4bn takeover by Australia's Ramsay Health Care, sending shares in the UK private hospital group tumbling.
Spire said on Monday that total votes in favour of the deal were 69.88% at the General meeting and 72.07% at the Court Meeting, coming in below the 75% acceptance threshold.

"Accordingly, the acquisition of Spire by Ramsay has been terminated and the scheme has lapsed," the company said.

Ramsay had sweetened its bid for Spire earlier this month to 250p a share from 240p. However, shareholders Toscafund Asset Management and Fidelity made it clear that even if the improved offer significantly undervalued the group.

Had the acquisition gone ahead, it would have created the largest private hospital company in the UK.

At 1300 BST, Spire shares were down 11.5% at 208p. They were already down 6% earlier in the day amid expectations the deal would be voted down.

Spire chairman Sir Iain Cheshire said: "We respect the decision of our shareholders and will now continue to execute our strategy to deliver growth and create greater value through supporting private patients and the NHS. Throughout our ongoing engagement with shareholders, feedback has been overwhelmingly positive towards the long-term strategy and our strong management team. We remain confident in the company's long-term fundamentals and are well positioned for success as a standalone business.

"Whilst the majority of shareholders voted in favour of the scheme, the result is clear. As a board, we are committed to representing the interests of our shareholders and have fulfilled our duty to present the proposed Transaction for their consideration, given its value and structure."

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SPI Market Data

Currency UK Pounds
Price 230.50p
Change Today 0.000p
52 Week High 254.50p
52 Week Low 146.60p
Volume 201,380
Shares Issued 401.10m
Market Cap 924.54m
Beta 0.05

Performance Indicators

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What The Brokers Say

Strong Buy 2
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
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SPI Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Nov-19 30-May-19
Paid 10-Dec-19 25-Jun-19
Amount 1.30p 2.50p

Trades for 26-Jan-2022

Time Volume / Share Price
14:45 560 @ 230.50p
14:44 500 @ 230.09p
14:44 142 @ 230.00p
14:43 434 @ 230.09p
14:40 1,000 @ 230.17p

SPI Key Personnel

CEO Justin Ash
CFO Jitesh Himatlal Sodha