Home news Spire shares hit as takeover talks end

Spire shares hit as takeover talks end


Shares in private hospital group Spire dropped sharply after Mediclinic scrapped a bid for the company.Spire had rejected a revised bid that valued its shares at 315.5p each, saying the offer “undervalued Spire and its prospects”.Shares in the FTSE 250-listed Spire fell 6.9% on the news, while Mediclinic – a FTSE 100 member – dropped 3.2%.After opening lower, the FTSE 100 index recovered as the morning progressed.Shortly after midday, the benchmark share index was up 13.79 points at 7,394.46.Shares in Thomas Cook rose nearly 5% following some upbeat broker comment. Panmure raised its rating on the travel company to “hold” from “sell”, while HSBC gave the firm a “buy” rating.On the currency markets, the pound rose 0.2% against the dollar to $1.3240 and was 0.3% higher against the euro at €1.1241.The euro had fallen sharply in early trade after talks on forming a coalition government in Germany collapsed.However, after falling by as much as 0.6% against the dollar, the euro then recovered to stand little changed against the US currency at $1.1785.
Source: BBC