Assura Takeover Battle Heats up as PHP Outbids KKR-Stonepeak

Assura takeover battle heats up as PHP outbids KKR-Stonepeak

(Reuters) -British healthcare REIT Primary Health Properties (PHP) has offered a cash-and-stock deal to buy peer Assura for about 1.68 billion pounds ($2.23 billion), outbidding rival suitors KKR and Stonepeak Partners. British medical property owner Assura agreed to a 1.61 billion pound takeover bid from KKR and Stonepeak Partners in early April, after rejecting a lower bid from PHP. PHP’s new offer values Assura at 51.7 pence, including divide…

NHS landlord Assura attracts new offer from PHP as bidding war heats up

PHP’s offer outbids the £1.61 billion takeover price offered by US private equity giants Kohlberg Kravis Roberts and Stonepeak Partners.

PHP makes surprise third approach for Assura at £1.68bn

Primary Health Properties has made a third approach for Assura as the war for the real estate investment trust heats up. PHP has offered £1.68bn for Assura, valuing its share price at 51.7p – a premium of 38.2 per cent to the company’s closing share price of 37.4 pence on February 13. This is the third time PHP has approached Assura. Assura refused its first indicative offer at 43p per share and the second at 46.2p per share on the grounds that …

Assura highlights strong performance amid KKR takeover bid and PHP interest