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Mon 23 Nov 2015 02:03 PM

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UAE's VPS set to make bid for rival Al Noor before deadline

Sources say bid will be made for healthcare firm before December 8 deadline set by UK Takeover Panel

UAE's VPS set to make bid for rival Al Noor before deadline

VPS Healthcare will make a bid for Al Noor Hospitals before the Dec. 8 deadline set by the UK Takeover Panel, two sources aware of the matter told Reuters on Monday, as the battle for the London-listed healthcare firm intensifies.

The United Arab Emirates-based firm has already agreed a 1.4 billion pound deal with South Africa's Mediclinic Intl but other suitors have been circling: NMC Health dropped out last week after making an initial offer.

The regulator said on Thursday that it had granted private healthcare firm VPS, also based in the UAE, an extension to make a firm offer or walk away.

"VPS will make a bid, there's still time," said one source familiar with the matter, who spoke on condition of anonymity as the information is not public.

The source said Deutsche Bank was advising VPS on the process.

A second source said a bid would be made, indicating it would be lodged "in the coming days".

VPS declined to comment when contacted by Reuters.

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