KKR assessing options after Assura rejects four takeover bids
By Josh White
Date: Monday 17 Feb 2025
(Sharecast News) - Private equity giant Kohlberg Kravis Roberts (KKR) confirmed on Monday that it has submitted four non-binding proposals to acquire FTSE 250 healthcare property investor Assura, with its latest offer valuing the company at £1.56bn.
It said the most recent proposal, sent on 13 February, offered 48p per share in cash, representing a 28.2% premium to Assura's closing price on that date but a slight discount to its net tangible asset value.
Assura's board had unanimously rejected all four approaches, including the latest offer on 15 February.
The company acknowledged a preliminary approach from both KKR and USS Investment Management on 14 February, but maintained confidence in its long-term prospects, advising shareholders to take no action.
KKR said on Monday that it was considering whether to continue pursuing a potential transaction, but emphasised that there is no certainty that a formal bid will be made.
Under UK takeover rules, it has until 14 March to announce a firm intention to make an offer or withdraw, unless an extension was granted by the Takeover Panel.
Separately, USS Investment Management, which had initially been linked to the potential offer, had now ruled itself out of any bid following Assura's rejection of KKR's latest proposal.
Reporting by Josh White for Sharecast.com.
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