26 May 2021 | 08:34am
StockMarketWire.com - UK stocks edged higher in early trade on Wednesday, buoyed by two takeover deals in the local healthcare sector worth around £1 billion each.
At 0822, the benchmark FTSE 100 index was up 5.76 points, or less than 0.1%, at 7,035.55.
Private hospital group Spire Healthcare surged 26% to 243.5p on announcing that it had agreed to be acquired by Australia s Ramsay Health Care for £999.6 million.
Spire shareholders would receive 240p per share, a 24% premium to the company s latest closing price before the deal was announced.
Inhaled-treatment focused Vectura rallied 31% to 160.01p after it agreed to be acquired by by US investment firm Carlyle Group for about £958 million.