FTSE 250 movers: Spire, Tate & Lyle surge on bid hopes

(Sharecast News) - FTSE 250 (MCX) 22,757.00 1.01%]

UK private hospital group Spire Healthcare on Thursday said it had received a £1bn buyout bid from Toscafund Asset Management, sending its shares surging by 46%.

The 250p-a-share proposal represents a premium of about 66% to Spire's last closing price, Spire said, adding that it would recommend it to shareholders if a formal offer was tabled.

Toscafund, which has an 18% stake in the company, has until June 11 to make a firm bid or walk away under UK takeover rules.

In a separate statement, Spire said it trading in the first four months of the year to April 2026 had been in line with our expectations as private patient revenue continued to grow strongly, particularly self-pay; with NHS revenue also as expected.

The company said it expected full-year earnings to be "broadly" in line with expectations.

Spire in January said it was in preliminary talks with investment firms Bridgepoint and Triton regarding a potential takeover, however Triton withdrew in March.

Tate & Lyle surged on Thursday as it confirmed it is in talks with US rival Ingredion about a possible takeover at 615p per share.

Responding to press speculation, Tate said that under the proposal - which followed a number of earlier approaches from Ingredion - its shareholders would get 595p per share in cash and the right to receive a final dividend of up to 13p per share and an interim dividend of up to 7p.

"The board and Ingredion are in discussions regarding the proposal," it said, adding that there can be no certainty that any offer will be made, nor as to the final terms on which any offer might be made.

A further announcement will be made when appropriate, the company said.

Under UK takeover rules, Ingredion has until 1700 BST on 11 June to make a firm offer or walk away.

Luxury watch retailer Watches of Switzerland said on Thursday that full-year adjusted underlying earnings were now expected to come in ahead of previous guidance after group revenue and sales grew.

Watches of Switzerland said revenues grew 13% at constant currency to £1.83bn, or 11% excluding its 53rd week, with demand for key luxury brands remaining robust across the UK and US. Luxury watch sales also grew 13% at constant currency, while luxury jewellery outperformed with an 18% uplift.

The FTSE 250-listed firm highlighted that the US had again led the charge, with revenues up 24% at constant currency and now accounting for more than half of group sales and profit. Retail revenue in the region climbed 25%, supported by broad‑based growth across brands, categories and regions. UK revenues increased 5% year‑on‑year, with momentum improving through the second half, particularly in luxury jewellery and pre‑owned.

Pre‑owned sales rose 22%, with further rollout of Rolex Certified Pre‑Owned in the UK, while e-commerce revenue grew 21% at constant currency.

As a result, adjusted underlying earnings were now expected to land between £152m and £155m, ahead of prior guidance, reflecting the stronger top‑line performance. Net debt closed the year at £57m following its acquisition of Deutsch & Deutsch.

Looking ahead, Watches of Switzerland said its FY27 guidance of 5% to 10% constant currency revenue growth and a 40 to 80 basis point expansion to its adjusted EBIT margin reflected confirmed supply, pricing and showroom plans, while noting limited direct exposure to geopolitical hotspots and tourist‑driven demand.

FTSE 250 - Risers

Spire Healthcare Group (SPI) 220.50p 46.61%

Tate & Lyle (TATE) 546.00p 45.41%

Watches of Switzerland Group (WOSG) 618.00p 16.38%

Aston Martin Lagonda Global Holdings (AML) 49.54p 6.31%

Premier Foods (PFD) 205.80p 4.41%

ITV (ITV) 80.95p 4.31%

Dr. Martens (DOCS) 63.30p 4.28%

RTW Biotech Opportunities Ltd (RTW) 2.19p 3.79%

IntegraFin Holding (IHP) 334.00p 3.57%

CVS Group (CVSG) 1,188.00p 3.31%

FTSE 250 - Fallers

Pagegroup (PAGE) 118.20p -5.21%

Ceres Power Holdings (CWR) 725.50p -2.42%

Partners Group Private Equity Limited. (EUR) (PEY) 8.16p -2.39%

Oxford Biomedica (OXB) 614.00p -2.38%

Safestore Holdings (SAFE) 649.50p -1.89%

HGCapital Trust (HGT) 345.00p -1.85%

Greencoat UK Wind (UKW) 99.75p -1.82%

Hays (HAS) 30.34p -1.81%

Raspberry PI Holdings (RPI) 697.00p -1.73%

Drax Group (DRX) 855.00p -1.72%