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Narayana Health says not planning to make offer for Spire Healthcare
(Sharecast News) - Spire Healthcare shares had pared earlier strong gains by Friday afternoon after India's Narayana Health said it does not intend to make an offer for the company. Narayana made the statement in response to a story earlier in the Economic Times, which cited people familiar with the matter as saying that Narayana was in talks with Spire's shareholders about buying a controlling stake.
The Economic Times said Narayana was planning to buy at least 51% of Spire via an open offer. It also said that if Narayana managed to buy around 75%, it would consider taking the company private.
Narayana said: "We hereby clarify that the company evaluates and explores various strategic opportunities on an ongoing basis in healthcare sector for growth of its business and investment opportunities.
"At this point in time, there is no material information or event that require disclosure under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 or any other applicable law."
It said the company will make appropriate disclosure in compliance with SEBI regulations "as and when such requirement arises".
At 1250 GMT, Spire shares were up 2% at 224.00p, having traded as high as 242.61p earlier.
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