PHP sweetens Assura bid amid ongoing contest with KKR

PHP hits back in battle for Assura

Primary Health Properties (PHP) has hit back in the battle for Assura stating that a merger of the two healthcare specialists was a highly compelling proposition for both sets of shareholders. This follows Assura board’s recommendation of an improved offer for the company from private equity groups KKR and Stonepeak valuing the company at £1,696m, […]

PHP sweetens Assura bid amid ongoing contest with KKR

Primary Health Properties (PHP) has offered a number of concessions to Assura as it fights to beat private equity giant KKR in its bid for the real estate investment trust. PHP, which has already made a number of bids for Assura – the latest at 51.7p per share, or £1.68bn – pledged to lower Assura’s acceptance condition of the offer and to accelerate its quarterly dividend in October. The firm said these concessions were made to “increase the ce…