South Africa: Spire Healthcare Rejects 1.2 billion pounds Ownership Proposal from Mediclinic

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Spire healthcare has recently rejected a 1.2 billion pounds proposal from South African private hospitals operator Mediclinic International which will give it full control of Spire Healthcare.

The healthcare company stated on Monday that Mediclinic offered 150 pence in cash and 0.232 new Mediclinic shares per Spire share and valued Spire shares at 298.6 pence to gain total control of the company.

According to Spire healthcare, the deal was rejected because it undervalued the company and its prospects.

The offer values spire at 1.2 billion ($1.59 billion).