Private equity group Towerbrook has pulled out of talks to takeover care homes group Southern Cross Healthcare.
In a stock market announcement, Southern Cross said: “[We] note the announcement by Towerbrook of its withdrawal from discussions concerning a possible offer for the company.”
Southern Cross said it had, however, been approached by other parties expressing potential interest in the company.
It added: “While these approaches are highly preliminary in nature, the board believes it to be in shareholders’ interest to continue to hold exploratory discussions. There can be no certainty that any offer will be forthcoming.”
The company’s preliminary full-year results will be announced on 7 December.
paul.norman@estatesgazette.com
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