VPS Healthcare said to make Al Noor bid before takeover deadline

Abu Dhabi-based VPS Healthcare will reportedly make a bid for Emirates-based healthcare provider Al Noor Hospitals before the 8 December deadline set by the UK Takeover Panel.

Reuters cited sources familiar with the matter as saying: "VPS will make a bid, there's still time".

One source said Deutsche Bank was advising VPS on the process, while the other said a bid was likely to be made "in the coming days".

Al Noor has already agreed a £1.4bn deal with South Africa’s Mediclinic, which looked to be winning the race after NMC health dropped out last week.

NMC said last Monday: “After a thorough assessment of the opportunity, NMC has concluded that the potential transaction would not deliver sufficient returns or shareholder value in line with its stated policy, and accordingly NMC now confirms that it does not intend to make an offer for Al Noor.”

At 1035 GMT, Al Noor shares were up 1% to 1,167p.