Cinven Considers Offer For Spice; Indicative Proposal Rejected

LONDON (Dow Jones)--European buyout firm Cinven Group Ltd. said Tuesday it is considering making an offer for utility support services group Spice PLC (SPI.LN) after its indicative possible offer price of 56 pence a share was rejected by the board. In a statement in response to Monday's movement in Spice's share price Cinven said it approached the company May 24 with the 56 pence cash approach, subject to due diligence and the board's recommendation. The possible offer was a 51% premium to the share price at the close of business May 21. Cinven added that it isn't currently in talks with Spice and there is no firm intention to make an offer. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires June 15, 2010 02:29 ET (06:29 GMT) Spire Healthcare