Spire Healthcare Agrees to GBP1.03 Billion Toscafund Takeover Offer

11:47 PM EDT, 09/06/2026 (MT Newswires) -- Spire Healthcare (SPI.L) agreed to the recommended cash takeover offer of 1.03 billion pounds sterling from a consortium including funds managed or advised by Toscafund Asset Management, Three Hills, and Ares. Under the proposed acquisition, the London-listed healthcare company will be acquired by Tulip UK Bidco Ltd., a newly formed vehicle backed by the consortium. Spire shareholders will receive 2.50 pounds in cash for each share, implying an enterprise value of roughly 2.31 billion pounds. In addition to the cash offer, shareholders can elect to participate in the alternative offer and exchange some or all of their shares for loan notes issued by Bidco. It is capped at 28 million shares, or 8.5% of the scheme shares. Under the alternative offer, shareholders will receive 2.5 rollover securities for each Spire share exchanged. The acquisition is expected to be completed in the fourth quarter of 2026 or the first quarter of 2027, subject to closing requirements and regulatory clearances.