Assura Receives Revised Proposal from PHP, Extends Deadline
Why we think this is neutral
This announcement from Assura plc does not contain any specific financial or operational updates. It is a general corporate update regarding a possible offer for the company from Primary Health Properties plc (PHP). Without any concrete details on the financial or trading performance of the business, a neutral sentiment score is appropriate.
Key Points
- Assura received a revised indicative proposal from PHP regarding a possible share and cash offer
- The Board is considering the proposal with its advisers
- The Board has requested an extension to the current deadline for PHP to announce its intentions
- The Board remains in discussions with KKR and Stonepeak regarding a possible cash offer
Summary
Assura plc has received a revised indicative proposal from Primary Health Properties plc (PHP) regarding a possible share and cash offer for the company. The Board is considering the proposal with its advisers and has requested an extension from the Takeover Panel to the current deadline for PHP to either announce a firm intention to make an offer or state it does not intend to do so. The Board remains in discussions with Kohlberg Kravis Roberts & Co. Partners L.L.P. (KKR) and Stonepeak Partners (UK) LLP regarding a possible cash offer for the company.