José de Mello Saúde, S.G.P.S., S.A. made an offer to acquire Espírito Santo Saúde SGPS, SA. (ENXTLS:ESS) from Espírito Santo Health Care Investments, S.A. and others for approximately €420 million on September 11, 2014. José de Mello Saúde will pay €4.4 for each of the 95.54 million shares. The offer constitutes a competing offer to the public offer by Grupo Angeles Servicios de Salud SA de CV of €4.3 per share for each share of Espírito Santo Saúde SGPS, SA. The transaction is subject to approval by Portugese Securities market Commission, Portuguese competition authority, the Portuguese Ministry of Health and the Luxembourg authorities. The transaction is also subject to a minimum tender of 50.1% stake. If José de Mello Saúde reaches 90% stake or above, it will initiate a squeeze-out offer for the remaining shares. Banco Santander Totta SA and Caixa-Banco de Investimento SA acted as financial advisors for José de Mello Saúde.

As of September 22, 2014, Fidelidade-Companhia de Seguros, S.A. announced a competing offer to acquire Espírito Santo Saúde SGPS, SA. (ENXTLS:ESS) for €450 million at €4.72 per share.

José de Mello Saúde, S.G.P.S., S.A. cancelled the acquisition of Espírito Santo Saúde SGPS, SA. (ENXTLS:ESS) from Espírito Santo Health Care Investments, S.A. and others on September 26, 2014.