Health takeover is off

MEDICLINIC International said it will not make a further swoop for private hospital group Spire Healthcare after a breakdown in takeover talks.

The South African-based firm said it was ‘disappointed’ by the outcome after seeing a revised bid of 165p per share in cash rejected by Spire.

Spire said the proposed deal for the 70pc of the company Mediclinic did not already own undervalued the firm and its prospects.

Garry Watts, chairman of Spire, said: ‘The board carefully considered Mediclinic’s approach but determined that it did not reflect the true value of the company and was not in the best interests of shareholders as a whole.’