30th Nov 2015 15:10
(Correcting that NMC Health is not a potential buyer of Al Noor, having removed itself earlier this month.)
LONDON (Alliance News) - VPS Healthcare Group said Monday it has opted not to make an offer for Al Noor Hospitals Group, saying it has concluded that the potential acquisition would "not be in the best interests of the company".
This takes the number of suitors for the FTSE 250-listed private hospital group Al Noor down to one, with Al Noor having reached a deal on a possible reverse takeover by South Africa's Mediclinic International Ltd. It had received a competing approach from London-listed peer NMC Health PLC. However, earlier this month, NMC Health opted not to make an offer for Al Noor.
Shareholders of Al Noor will vote on the Mediclinic transaction on December 15 at a shareholders meeting in London.
VPS had first indicated its interest in Al Noor in October, and earlier this month was given a deadline by the UK takeover panel of December 8 to either announce a firm intention to make an offer for Al Noor or walk away.
Shares in Al Noor were down 1.3% at 1,140.00 pence Monday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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