Britain's Spire rejects 1.2 billion pound Mediclinic offer, shares soar

Britain's Spire rejects 1.2 billion pound Mediclinic offer, shares soar:

"Britain’s Spire Healthcare has rejected a full takeover offer from South African private hospitals operator Mediclinic International (MDCM.L), which already owns nearly 30 percent of its stock, sending its shares up 12 percent.

Spire said Mediclinic had made a preliminary and conditional proposal that consisted of 150 pence in cash and 0.232 new Mediclinic shares per Spire share, valuing the target at 298.6 pence per share or around 1.2 billion pounds ($1.6 billion) in total.

Spire shares were up 13.1 percent at 295.6 pence by 0807 GMT, on track for their biggest-ever daily gain and only a slight discount to the value of Mediclinic’s terms."



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