海角视频 healthcare property specialist Assura is set to be acquired by private equity titans KKR and Stonepeak in a £1.7bn deal, marking another significant delisting from the London Stock Exchange.
Assura has given the nod to an all-cash offer from Sana Bidco, a joint venture between KKR and Stonepeak, which places the company's value at 52.1p per share, surpassing its closing price of 48.58p on Tuesday.
The bid outdoes an earlier proposal from Primary Health Properties (PHP) made in late May, which was pitched at 51.7p per share, as reported by .
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Assura has been the subject of a bidding war, with KKR criticising PHP's bid as fraught with "numerous critical issues" that could "significantly increase the financial risk profile of the combined entity".
Following this acquisition, Assura will join the growing roster of companies leaving the stock market in 2025, after a tech buyout spree on Monday by US firms targeting undervalued 海角视频 entities
Altringham-based Assura said the takeover will serve the NHS well, asserting that private ownership will provide access to fresh capital and allow for greater investment in healthcare infrastructure, free from the constraints of public market expectations.
It said the transaction would support the NHS and the broader 海角视频 healthcare sector by expediting the construction of new medical facilities and enhancing existing ones.
The acquisition follows initial plans for a Court-sanctioned scheme of arrangement to acquire Assura, a method typically employed in large-scale mergers and acquisitions that necessitates approval from shareholders and the court.
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However, to increase the certainty of completion, and to offer shareholders an immediate cash exit option, the bidders have decided on a takeover bid instead.
Andrew Furze, managing director at KKR, commented: "After nearly a year of engagement, this is our best and final offer, which we believe is lower risk than other alternatives and higher in value, offering a significant premium.
"We require no disposals to achieve our ambition and importantly the all cash offer poses minimal execution risk."