News article which appears to have gone unnoticed.
From "THIS IS MONEY" website

Ubiquitious Warburg Pincus has completed more initial public offerings (IPOs) than any other private equity firm. It is currently putting its considerable weight behind a proposed $1.5bn IPO of Bausch & Lomb, the leading supplier of contact lenses and lens care products. It also has its beady eye on much smaller fry.

Word is it recently approached the board of dermatology specialist Sinclair IS Pharma, up 0.12p to 26.5p, with a ‘friendly’ £152m or 35p-a-share cash offer to take the company private, but was sent away with a flea in its ear.

Apparently that was before there was any consultation with the group’s major shareholders which include Toscafund Asset Management (13.6 per cent), Lansdowne Partners (11 per cent) and Blackrock (4.36 per cent).

Broker Canaccord Genuity’s target price is 38p. It recently reiterated its buy stance after Sinclair signed an exclusive ten-year partnership with Hikma to commercialise Flammacerium, its hospital product for the prevention and treatment of infections in severe burns, in the MENA region.

One fund manager said that Sinclair has emerged as a top bid target as there is a paucity of smaller dermatology firms with a global platform. Warburg Pincus could take it private now and spin it off at a later date at an enhanced price.

Toscafund bought another 6 million shares and crossed the 20% limit. How long before something happens?

Institutional and other main shareholders are above the 70% holding

SP has had a steady climb over the last 10 weeks and likely to continue. Still talk of a take over on BBs