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● TRACKER Updated 8d ago · 7 sources tracked

Spire Healthcare agrees £1.03 billion takeover by Toscafund and others

Spire Healthcare has agreed to a takeover by a consortium led by Toscafund for £1.03 billion. Tulip UK Bidco Ltd, owned by funds managed or advised by Toscafund Asset Management LLP, THCP Advisory Ltd, and Ares Management Ltd, will pay 250 pence in cash per share. A majority of shareholders have already accepted the offer. Following the agreement, Spire's chair and chief executive stepped down immediately to facilitate the transition to new ownership. The offer represents a 66% premium over the undisturbed share price from May 13.

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  • ✓ Spire Healthcare agreed to a takeover valued at £1.03 billion.
  • ✓ Toscafund leads the consortium acquiring the company.
  • ✓ Tulip UK Bidco Ltd will pay 250 pence in cash for each Spire share.
  • ✓ The takeover offer includes a 66% premium to the undisturbed share price of 150.4p on May 13.
🛡️ Source Corroboration: 7 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

Spire Healthcare confirmed the agreement to be acquired by Tulip UK Bidco Ltd for 250 pence per share.

Live updates

  1. Spire Healthcare agrees to £1.03 billion takeover by Toscafund consortium

    Spire Healthcare has agreed to a takeover by a consortium led by Toscafund for £1.03 billion. Tulip UK Bidco Ltd, owned by funds managed or advised by Toscafund Asset Management LLP, THCP Advisory Ltd, and Ares Management Ltd, will pay 250 pence in cash per share. A majority of shareholders have already accepted the offer. Following the agreement, Spire's chair and chief executive stepped down immediately to facilitate the transition to new ownership. The offer represents a 66% premium over the undisturbed share price from May 13.

    Why it matters

    Spire is the largest private hospital firm in the UK. This acquisition moves the provider from public markets to private equity ownership.

    What is confirmed

    • Spire Healthcare agreed to a takeover valued at £1.03 billion.
    • Toscafund leads the consortium acquiring the company.
    • Tulip UK Bidco Ltd will pay 250 pence in cash for each Spire share.
    • The takeover offer includes a 66% premium to the undisturbed share price of 150.4p on May 13.
    • Spire's chair and chief executive stepped down immediately following the deal agreement.
    • A majority of shareholders have accepted the takeover offer.
    • Tulip UK Bidco Ltd is owned by funds managed or advised by Toscafund Asset Management LLP, THCP Advisory Ltd, and Ares Management Ltd.

    What to watch next

    • Completion of the transition to new ownership
    • Final regulatory approvals for the takeover
    Sources used for this update (7)
    1. Reuters — Spire Healthcare agrees £1.03 billion takeover by Toscafund and others
    2. The Independent — Major UK private hospital firm taken over by hedge fund in £1bn deal
    3. Scottish Financial News — Toscafund-led consortium to acquire Spire Health for £1.03bn
    4. Kalkine Media — Spire Healthcare Group plc (LSE:SPI) Moves Deeper Into Deal Focus
    5. The Guardian — UK’s biggest private hospital firm Spire agrees £1bn takeover by hedge fund
    6. www.econotimes.com — Spire Healthcare Shares Jump on £1.03 Billion Takeover Deal
    7. shareprices.com — Spire Healthcare accepts GBP1 billion private equity takeover offer
    confidence 100%
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