Spire Healthcare has for a second time extended the deadline for Toscafund Asset Management to make a formal offer for the private hospital operator.
Toscafund now has until July 9 to make a formal bid with talks continuing leading to the previous deadline of 25 June being extended.
Discussions between the two parties are ongoing as is the asset manager’s due diligence of the healthcare group which runs 38 hospitals and more than 60 clinics in Britain.
The asset manager already owns 18% of the business, making it the company’s second largest shareholder.
Spire’s board received a non-binding 250p a share cash offer in May, which values the company at £1bn.
The board is waiting for Toscafund to make its offer formal or walk away.
Spire was in talks with two other potential buyers for the private hospital operator following a strategic review of the business last year.
Those two investors walked away in March, leaving Toscafund as the only party at the table.