PRESS: Another Spire shareholder opposes Ramsay takeover deal

(Alliance News) - Another Spire Healthcare Group PLC shareholder has objections over Ramsay Health Care Ltd's GBP999.6 million takeover offer, Sky News reported on Wednesday.

Sky reported that Toscafund Asset Management, which holds a 5.4% stake in Spire, has urged other investors to reject the 240 pence per share bid for the private healthcare operator.

A Toscafund spokesman said it was "clear that the Spire share price would trade comfortably over 240p within the next 12 months".

Sky News last week reported that Fidelity International, which holds a stake of around 8.7% in Spire, plans to oppose the takeover bid on the grounds it "materially undervalues" the business.

https://news.sky.com/story/toscafund-joins-opposition-to-1bn-ramsay-takeover-of-spire-healthcare-12333855

Mediclinic International PLC, Spire's largest shareholder at 30%, has accepted Ramsay's offer, as have Spire's independent directors.

By Lucy Heming; lucyheming@alliancenews.com

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