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Ramsay shelves $2 billion UK takeover bid, shares jump


Ramsay shelves $2 billion UK takeover bid, shares jump
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Ramsay Health Care’s hopes of becoming the largest private hospital operator in the UK have been dashed after shareholders of its takeover target Spire voted against a planned acquisition.
Ramsay revealed its bid for a huge $1.8 billion takeover of Spire Healthcare back in May, in a move that valued Spire at $3.7 billion with Ramsay initially offering 240 pence a share for the British hospital operator.
Craig McNally said in May that Ramsay had been watching Spire as a takeover target for a decade. ....

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Fidelity joins investor revolt against Ramsay's higher bid for Spire


Fidelity joins investor revolt against Ramsay’s higher bid for Spire
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Alex Wright, Fidelity Special Situations Fund portfolio manager, said his view remains the same that the bid undervalues Spire, despite the Australian private hospitals operator sweetening its offer by 10 pence to £2.50 a share – an increase of £40 million.
Ramsay Health Care CEO Craig McNally is facing a battle to get a higher bid for UK’s Spire Healthcare over the line. 
James Brickwood
“To put this offer in perspective, the board turned down a previous 300p per share takeover approach in 2017 when the stock had recently traded at 350p (circa 20 times earning in 2015-2017),” Mr Wright told ....

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