Assura has agreed terms for a £1.6 billion takeover by US private equity group KKR after weeks of failed attempts by Primary Health Properties to acquire the healthcare property group.
Assura and KKR have agreed terms for a cash acquisition of Assura, which values Assura at 49.4 pence per share. Primary Health Properties latest offer valued Assura at just 46.2p.
KKR’s offer comprises 48.56 pence cash and a 0.84 pence dividend due in April.
The offer matches Assura’s EPRA NTA value of 49.4 pence per share and represents a premium of nearly 32% on Assura’s closing price before the offer period.
Primary Health Properties’ unwillingness to pay Assura’s EPRA NTA means yet another UK-listed company falls into the hands of a US private equity group.