|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.0000 - 0.0000|
|52 Week Range|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.50|
Mediclinic shares slipped as much as 6.5 percent to their lowest level since February 2014, while Spire, which has rejected an initial bid, saw its stock drop by more than 7 percent to 276 pence, well below the 298.6 pence offer price. "No agreement has yet been reached on any of the key terms of an offer," Mediclinic, which also reported a 11 percent drop in its first-half profit, said in a statement. Spire rejected Mediclinic's 1.2 billion pound offer last month, saying it "undervalued" Britain's second-largest healthcare company.
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.
South African private hospitals operator Mediclinic International (MDCM.L) has approached Spire Healthcare (SPI.L) about a deal to take full control of Britain's second-largest healthcare company, according to a person familiar with the matter. Mediclinic owns 29.9 percent of FTSE 250-listed Spire, a stake it bought for about 430 million pounds from private equity firm Cinven in 2015. The company, which is listed in Johannesburg and London, is now considering a deal to buy the rest of Spire, the person said.