Australian healthcare firm Ramsay Healthcare has upped its bid in its pursuit of its £1bn takeover of private healthcare provider Spire.
In late May, the firms’ boards revealed they had reached agreement on Ramsay purchasing all Spire shares at 240p each.
In mid June, Health & Protection reported that a shareholder rebellion threatened to jeopardise the deal amid opposition from shareholders Fidelity International and Toscafund Asset Management.
But yesterday Spire released a statement to the London Stock Exchange in which it revealed Ramsay had upped its bid to a final bid of 250p per share.
Spire’s board added they believed the offer was in the best interests of shareholders and so is unanimously recommending that shareholders vote in favour of the deal at the court meeting and general meeting set for next Monday (12 July).