FTSE 250 movers: Spire surges on bid talk; C&C slumps again

(Sharecast News) - FTSE 250 - 23,385.11 0.29%

Spire Healthcare surged after it confirmed preliminary takeover talks with private equity firms Bridgepoint and Triton.

Spire stressed that discussions were preliminary and that there was no certainty that any offer would be made, nor any clarity on potential terms should a bid emerge.

The FTSE 250-listed group also noted that Bridgepoint and Triton will be required to announce a firm intention to either make an offer or not by 21 February. However, it added that this deadline can be extended with the consent of the Panel on Takeovers and Mergers.

Sky News reported on Saturday that Spire Healthcare had attracted takeover interest from a number of private equity firms, with several potential bidders holding discussions about a possible offer.

City sources told Sky News that Bridgepoint and Triton were among a wider group considering bids ahead of a deadline set for this week. Advent International and Bain Capital were also said to have contacted Rothschild, which has been overseeing the review, although neither was expected to advance further in the process.

"A previous takeover deal for Spire back in 2021 - which would have seen Aussie operator Ramsay Health Care take the company over in a £1bn deal - fell apart despite being recommended by the board, thanks to opposition from major shareholders," said AJ Bell's Russ Mould.

"If the speculated £1.5bn price tag in this latest sale process is right then it looks like that opposition was warranted, although this might be optimistic given where the share price is languishing right now. The more recent shareholder pressure to launch a review of the business reflects the stock's miserable performance and investors may welcome the opportunity to check out of Spire should it arise."

Residential landlord Grainger rose as it said its property joint venture with Transport for London has agreed to forward fund and buy a 195-home rental project at Chiswick Reach in West London to be developed in partnership by Barratt Redrow.

Gold miners Hochschild and Endeavour shone amid the rally in gold prices as the precious metal breach $5,000 an ounce.

Drinks maker C&C Group slumped again after issuing a profit warning on Friday, stating that overall trading was below internal expectations in FY26, with customer performance across November and early December impacted by weak consumer confidence associated with the UK Budget.

FTSE 250 - Risers

Spire Healthcare Group (SPI) 211.00p 18.41% Ninety One (N91) 260.20p 8.96% Hochschild Mining (HOC) 738.00p 5.13% B&M European Value Retail S.A. (DI) (BME) 167.60p 3.71% Endeavour Mining (EDV) 4,500.00p 3.07% Pan African Resources (PAF) 142.80p 3.03% TBC Bank Group (TBCG) 4,165.00p 2.97% Ashmore Group (ASHM) 240.40p 2.65% Moonpig Group (MOON) 220.00p 2.56% BlackRock World Mining Trust (BRWM) 1,004.00p 2.55%

FTSE 250 - Fallers

C&C Group (CDI) (CCR) 106.60p -6.82% Rank Group (RNK) 91.10p -2.88% Hill and Smith (HILS) 2,280.00p -2.56% Computacenter (CCC) 3,278.00p -2.56% Pagegroup (PAGE) 198.70p -2.50% Renishaw (RSW) 3,745.00p -2.47% Trainline (TRN) 204.40p -2.11% AJ Bell (AJB) 455.80p -1.89% Watches of Switzerland Group (WOSG) 524.00p -1.87% Hays (HAS) 45.80p -1.72%