Importance Score: 35 / 100 🔵
A significant NHS property owner has increased its acquisition proposal for GP surgery group Assura, as a competitive bidding situation with US private equity firm KKR intensifies.
Bidding War Intensifies for GP Surgery Owner Assura
Primary Health Properties (PHP), a major NHS landlord, has enhanced its bid to acquire the London-listed real estate investment trust, Assura, with a revised £1.5 billion merger offer. This revised proposal follows a previous approach that was rejected by Assura.
However, PHP’s improved offer remains below the £1.6 billion proposition tabled by KKR, which Assura indicated it was “minded to accept.”
Competing Offers on the Table
Both Assura and PHP are prominent owners of healthcare properties, including GP surgeries, hospitals, and hospices across the United Kingdom. The potential acquisition reflects significant interest in the healthcare real estate sector.
Potential Market Impact
A successful takeover by either party would result in Assura’s delisting from the London Stock Market. However, under the merger proposal from PHP, Assura would remain part of a publicly traded entity, offering a different outcome for investors.
Decision Deadlines Loom
PHP faces a deadline of Monday to submit a definitive, firm offer or withdraw from negotiations. KKR has a subsequent deadline, extending until April 11, to finalize its bid. The market awaits the next developments in this ongoing acquisition battle.