Healthcare firm Circle Holdings to delist from London Stock Exchange after Toscafund takeover

 
William Turvill
Follow William
The Square Mile - London's Financial District
Circle Holdings will delist from the Alternative Investment Market (Aim) on 1 June (Source: Getty)

Healthcare company Circle Holdings is to delist from the London Stock Exchange next month when it is taken over by Toscafund.

The London-based hedge fund announced a takeover deal for Circle at the end of March.

Read more: Speedy Hire hammers expectations – "in spite" of Toscafund activism

Toscafund already owned a 26.75 per cent stake in Circle and offered 30p for each additional share, valuing the company to £75.2m.

Circle today announced that, after the deal had become “unconditional in all respects”, it would be delisting from the Alternative Investment Market (Aim) on 1 June.

Toscafund said it had received acceptance from shareholders representing 93.34 per cent of voting rights and that others may still accept the offer.

Read more: London-listed healthcare firm feeling fit as shares soar over 17 per cent

When the offer was first accepted by the board, Circle’s non-executive chairman Michael Kirkwood said:

Under the single ownership of a well-resourced bidder, and without the costs and distractions of a public listing, the management team will have greater flexibility to accelerate the growth opportunities that exist and, importantly, maintain the company’s primary goal of outstanding patient care and outcomes.

Related articles