Global bidding battle boosts GP surgical procedure proprietor Assura as main NHS landlord ups its supply
A major NHS landlord has upped its offer for GP surgery owner Assura as a bidding war with US private equity giant KKR heats up.
Primary Health Properties (PHP) has sweetened its bid for the London-listed trust with a £1.5billion merger offer after an earlier approach was rejected.
But that was less than the £1.6billion offer by KKR, which Assura was ‘minded to accept’.
Both Assura and PHP own surgeries, hospitals and hospices in the UK.
A takeover would mean Assura leaves London’s stock market. But by merging with PHP, Assura would still be part of a publicly traded company.
PHP has until Monday to make a firm offer or walk away. KKR has until April 11.
Target: Primary Health Properties has sweetened its bid for GP surgery owner Assura with a £1.5bn merger offer after an earlier approach was rejected
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