Ramsay Health Care Makes All-Cash Offer for U.K.'s Spire Healthcare
May 26 2021 - 3:09AM
Dow Jones News
By Stuart Condie
SYDNEY--Ramsay Health Care Ltd. has made an all-cash offer for
U.K. rival Spire Healthcare Group PLC, in a move that the
Australian hospital operator said will create a leading U.K.
service provider.
Ramsay on Wednesday said Spire's board had unanimously
recommended shareholders accept its offer of GBP2.40 (US$3.40) a
share, which implies a company enterprise value of GBP2.06 billion.
Shares in Spire last traded at GBP1.93.
Ramsay said the acquisition would be funded by existing debt
facilities and may require the divestment of some U.K. assets to
gain approval from U.K. regulators. It said it will engage in one
or both of capital management and a strategic review following the
acquisition, which it expects to close in July.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
May 26, 2021 02:59 ET (06:59 GMT)
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