The bid for Spanish elderly care group Sanyres is coming to a close. As we wait for an official announcement, it appears that Paris-listed pan-European provider Orpea will pip Spain's top care group SARquavitae. Our sources expect the price to be an EBITDA multiple higher than twelve. Meanwhile, the bidding process for Spain's fifth largest group Amma has taken off. We look at the bidders and consider the sector.