October 23, 2017 / 6:27 AM / in a month

Spire rejects 1.2 bln pound Mediclinic takeover bid

Oct 23 (Reuters) - Spire Healthcare has rejected an approach by South African private hospitals operator Mediclinic International on a deal to take full control of Britain’s second-largest healthcare company.

The proposal comprised 150 pence in cash and 0.232 new Mediclinic shares per Spire share and valued Spire shares at 298.6 pence, Spire said on Monday.

Spire reveiwed the proposal and decided that it significantly undervalues Spire and its prospects, it added.

The offer values Spire at 1.2 billion pounds ($1.59 billion).

Mediclinic already owns 29.9 pct of Spire, Thomson Reuters data shows. ($1 = 0.7569 pounds) (Reporting by Justin George Varghese in Bengaluru; Editing by David Goodman)

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