Private hospital firm Spire gives hedge fund tycoon more time to thrash out £1bn takeover
Private hospital firm Spire Healthcare has given a hedge fund tycoon more time to thrash out a £1billion takeover deal.
It extended the deadline for Toscafund and its boss Martin Hughes to finalise a 250p-a-share bid from 5pm yesterday to 5pm, August 6.
Toscafund, set up in 2000 by Hughes – known as ‘the Rottweiler’ for his aggressive dealmaking – is the second-largest shareholder.
Spire runs 38 hospitals and more than 60 clinics in England and Wales. It treated 1.4m people last year and is the leading private provider of knee and hip operations by volume.
It runs workplace health services for about 1,400 employers.
Talks: Private hospital firm Spire Healthcare extended the deadline for Toscafund and its boss Martin Hughes to finalise a 250p-a-share bid
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