Shares of Spire Healthcare (LON:SPI), a leading UK private hospital operator, rose more than 4% on Thursday after Sky News reported on Wednesday that major investors are urging the company to consider a sale.
The British news channel reported that activist investment trust Achilles, co-founded by prominent fund manager Christopher Mills, along with other Harwood Capital Management entities holding around 5% of Spire’s shares, have pressed the board to explore talks with potential buyers.
These investors believe the company is significantly undervalued, particularly as Spire’s real estate assets alone have been valued at over £1.4 billion, compared with its market capitalisation of roughly £820 million, the report said.
Spire operates 38 hospitals and more than 50 clinics, medical centres, and consulting rooms across the UK, making it the largest provider of hip and knee operations in the country. CEO Justin Ash runs the company, which is chaired by Sir Ian Cheshire.
Achilles, managed by Robert Naylor, is understood to have recommended that Spire hire advisers to initiate a formal sale process.
While Spire has reaffirmed its commitment to delivering shareholder value, it is unclear whether any formal approaches have yet been made.
The investor push for a sale comes amid broader interest in UK-listed companies, with several FTSE 250 firms attracting bid attention from private equity and overseas buyers.
Spire’s board has stated it will continue to evaluate and implement actions aimed at driving long-term shareholder value.
Source :
https://www.investing.com/news/stock-market-news/spire-healthcare-stock-jumps-4-on-reports-of-investors-push-for-sale-4243961
