Spire Healthcare surges on report of £1bn Bridgepoint offer

(Sharecast News) - Spire Healthcare shot higher on Friday following a report that private equity firm Bridgepoint is drawing up proposals for a formal offer worth £1bn for the private hospitals operator.

According to Sky News, the former owner of Oasis Healthcare, the dentistry chain previously run by Spire's chief executive, Justin Ash, is formulating plans to launch a bid for Spire Healthcare worth around 230p a share.

Sky said a formal offer is unlikely to be made ahead of a deadline set by the UK mergers regulator of 1700 GMT on Saturday, meaning a further extension to the process is considered likely.

In January, Sky News revealed that Bridgepoint and Triton were among the parties interested in acquiring Spire. Others are also said to have expressed an interest in the group, although it was unclear whether any planned to table formal bids, Sky said.

It was understood that Bridgepoint's interest in Spire is serious, but might not lead to a formal offer.

Spire runs nearly 40 of the UK's biggest private hospitals and employs thousands of people.

Spire declined to comment on the Sky article.

At 0925 GMT, the shares were up 6.3% at 189.20p.

Spire Healthcare