In response to recent media speculations, Narayana Health clarifies it has no plans to make an offer for Spire Healthcare Group plc (“Spire”).
The statement released by the company says it falls under Rule 2.8 of the Code, which imposes certain restrictions, unless permitted by the Panel on Takeovers and Mergers (the “Panel”) or under specific exceptions outlined in the Code.
The statement mentioned that under Note 2 on Rule 2.8 of the Code, NARAYANA Health reserves the right to set aside the restrictions in Rule 2.8 in the following circumstances:
With the agreement of the board of directors of spire.
Following the announcement of a firm intention to make an offer for spire by or on behalf of a third party;
Following the announcement by spire of a Rule 9 waiver proposal as described in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover (as defined in the Code); or
Where the Panel has determined that there has been a material change of circumstances.
Source of Information : https://finance.yahoo.com/news/narayana-health-statement-regarding-spire-161100266.html
