Some big-name City M&A bankers are working on a potential £1bn takeover of the FTSE 250 healthcare group, Spire Healthcare

Spire has confirmed that it received a "preliminary and conditional" cash and share proposal from Mediclinic International on October 18 to buy the company, valuing it at 298.6p per share. That would value the entire business at about £1.2bn. Spire has rejected the proposal and told shareholders to take no action.