Irish trio in Healthcare bid

AT least five bidders - including Irish millionaires John Magnier and JP McManus - lodged offers of up to £500m for Westminster Healthcare's 88 nursing homes by yesterday's deadline.

Barchester, backed by the duo and fellow Irish tycoon Dermot Desmond, is among the top bidders in a close contest.

Venture capital group 3i, which bought Westminster 30 months ago for £267m, is set for a big profit.

Some 25 managers, led by chief executive Tony Heywood, will make at least £25m between them. Bupa, Germany's Allianz and Blackstone of the US are among the leading bidders.

Some leapt to the conclusion that, to raise the money, Magnier and McManus must have agreed to sell their 29% Manchester United stake to US suitor Malcolm Glazer.

But the pair have been backing the homes bid for months. Magnier owns 22% of Barchester, Desmond 15% and McManus 14%.

The trio's combined wealth of well over £1bn means they can easily afford the homes venture without cashing in at Man U.

They began buying Man U shares at about £1 and could realise £235m if Glazer pays 310p a share.