Australia's Ramsay Health Care offers to buy British peer Spire for $1.4 billion
Adds details of deal
May 26 (Reuters) - Australian hospital operator Ramsay Health Care RHC.AX on Wednesday offered to buy British peer Spire Healthcare Group SPI.L for 1 billion pounds ($1.42 billion) to strengthen its British healthcare business.
The offer for 240 pence per Spire share is a premium of 24.4% to the stock's last closing price.
Ramsay said it will engage with Britain's competition regulator for the deal. The UK Competition and Markets Authority may require it to divest certain hospitals and clinics for the deal to go through.
The deal will deliver high single-digit earnings per share from 2024, Ramsay said, adding that the acquisition will be funded through existing debt facilities.
($1 = 0.7064 pounds)
(Reporting by Arundhati Dutta in Bengaluru; Editing by Jacqueline Wong and Arun Koyyur)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.