The hotly contested takeover battle for Virtus Health has taken yet another twist after the IVF provider invoked an “out provision” in its sale deal with UK-based suitor CapVest Partners and began talks with BGH Capital instead, which it had spurned until now.

It comes as CapVest continues to deliberate whether it will match BGH’s on-market $8.15 per share acquisition bid – the ninth offer Virtus has received since December – which materialised on Tuesday night. As the British firm is still yet to respond, Virtus has invoked an exit clause within the sale deed.