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(Sharecast News) - Spire Healthcare said on Thursday that the deadline for Toscafund Asset Management to make a firm offer or walk away has been extended once again as the suitor finalises its financing arrangements.
The private hospital operator said Toscafund has confirmed that it has "substantially completed" its due diligence and that it continues to work towards the announcement of a 250p per share offer.
"Given that due diligence is substantially complete and the progress being made on transaction documentation, Toscafund has requested that the board grants a further extension to enable it to finalise its financing arrangements, which are well advanced," it said.
As a result, the 'put up or shut up' deadline has now been extended from 1700 BST on 6 August to 21 August.
Spire announced in May that it had received a 1bn buyout proposal from Toscafund - which has an 18% stake in the company - that it was minded to recommend should a firm offer be made.
At 1630 BST, the shares were 1.5% higher at 235.88p.
See latest RNS on Investegate
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