From Yahoo Finance: 2025-06-11 02:40:00

Private equity firms KKR and Stonepeak Partners raised their offer for Assura to almost 1.7 billion pounds, besting a rival bid by Primary Health Properties. The 52.1 pence a share offer is a 39% premium to Assura’s closing price before the initial approach, leading to a market capitalisation of 1.6 billion pounds.

Assura recommended accepting KKR-Stonepeak’s improved proposal, citing “material risks and downsides” in PHP’s offer. PHP, however, disagrees with this assessment and is reviewing its options. Assura manages over 600 healthcare properties valued at over 3 billion pounds, with the NHS as a customer.

The all-cash offer from KKR-Stonepeak is seen as lower risk and requires no divestment, making it an attractive option for investors. In April, Assura had backed KKR-Stonepeak’s previous cash offer, prompting a higher bid from PHP last month. Some analysts find PHP’s cash and stock offer more appealing.

UK companies like Assura are increasingly being acquired by overseas private equity firms due to relatively cheap valuations. KKR Managing Director Andrew Furze highlighted the lower risk nature of the cash offer. PHP’s bid includes ownership of social healthcare assets via a public limited company listed in the UK.



Read more at Yahoo Finance: KKR-Stonepeak raise bid in battle for UK’s Assura to $2.3 billion