Spire Healthcare tumbled after shareholders shot down a £1.4billion takeover offer that would have turned it into the UK s largest private hospital group.
Spire s Australian rival Ramsay Health Care had tabled a 250p-per-share bid for the mid-cap hospital group, which had been accepted by the board.
It needed to win 75 per cent of votes at a one-off meeting for the deal to go through. But it only clinched 70 per cent after two of Spire s biggest shareholders – Fidelity and Toscafund – rebelled against Ramsay and tried to convince others to do the same.
Takeover target: Spire s Australian rival Ramsay Health Care s bid for the hospital group was accepted by the board but shareholders – Fidelity and Toscafund - have voted it down
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