Spire shareholders are to be given an extra week to mull over Ramsay Healthcare’s improved offer for the healthcare provider.
In an announcement to the London Stock Exchange this morning, Spire revealed it will adjourn the meeting at which shareholders would decide upon whether or not to green light Australian healthcare provider Ramsay’s improved final bid of 250p per share. The meeting has been delayed from 12 July to 19 July.
In late May the firms’ boards revealed they had reached agreement on Ramsay purchasing all Spire shares at 240p each, but in mid-June a shareholder rebellion threatened to jeopardise the deal.
Commenting on this latest development, Spire chairman Sir Ian Cheshire said the board respected the views of all shareholders, adding it was incumbent on the board to ensure the voting process was fair and open to all.
“A number of investors have requested a short extension to the process to allow them to exercise voting rights, and it is our responsibility to ensure that as many shareholders as possible have the opportunity to express their views,” he said.
“We urge all shareholders to take advantage of this extension and remind them of the Spire board’s previous unanimous recommendation to vote in favour of the proposal from Ramsay.”