Healthcare REIT Assura has rejected a takeover bid from private equity giant Kohlberg Kravis Roberts & Co (KKR).
On Friday last week, Assura confirmed that KKR had submitted a fourth cash offer in six months for the entire issued and to be issued share capital of the company, which valued the business at £1,562m.
The bid of 48p per share represented a 28.2% premium to the closing share price of 37.4p on 13 February 2025 and a 2.8% discount to Assura’s EPRA net tangible asset value per share of 49.4p as of 30 September 2024.
KKR said it believed that the terms of the latest proposal offered a “highly attractive opportunity for Assura shareholders to realise their investment in cash at a significant premium to prevailing market prices”.
KKR added that it was now considering whether there was any merit in continuing to try to engage with the board of Assura.
