Spire Healthcare (LSE: SPI) has confirmed that talks with both Bridgepoint and Triton over a possible takeover have collapsed, narrowing the field of bidders in what has been a drawn-out strategic review.
The private hospital operator said that conversations with the two private equity firms have ended, but noted that the board remains in discussions with other unnamed parties regarding a potential sale.
Sky News reported last Thursday that Bridgepoint was preparing a 230p-per-share offer for Spire, which sent shares higher on Friday.
But after the market closed, Bridgepoint said it ‘has been unable to get sufficient confidence as to a transaction structure that would work for all stakeholders at this time’.
Triton followed with a statement saying it did not intend to make a firm offer for Spire.
As a result, Spire Healthcare share prices were down 20% at 152p at the time of writing on Monday.
Spire launched a strategic review last year to help unlock greater value for shareholders and may still continue life as a standalone entity if a buyer can’t be found.