Bids for the Priory disappoint

Royal Bank of Scotland has received bids for the Priory Group of less than the £1bn asking price. The bank had hoped to attract private equity buyers for the owner of the Priory clinics, but the first round of bidding last week has fallen short. Bain Capital, Blackstone, Cinven and Advent are among the first-round bidders. RBS inherited the rehab chain when it took over Dutch bank ABN Amro in 2007.