India, Sept. 7 -- The boards of Spire Healthcare Group plc (SPI.L) and Tulip UK Bidco have reached agreement on the terms of a recommended cash offer, pursuant to which Bidco will acquire the entire issued and to be issued ordinary share capital of Spire that the Consortium does not already own. The cash offer values the entire issued, and to be issued, ordinary share capital of Spire at approximately 1.03 billion pounds on a fully diluted basis and implies an enterprise value of approximately 2.31 billion pounds. The acquisition will be implemented by means of a Court-sanctioned scheme of arrangement. Eeach scheme shareholder at the scheme record Time will be entitled to receive: for each scheme share: 250 pence in cash.
Bidco is a newly ...