1 year ago
PHP Prevails in Assura Takeover, Creating UK's Largest Healthcare Landlord
Primary Health Properties (PHP) has won a battle to buy Assura, another company that owns buildings used for healthcare in the UK.
This means the UK will now have a much larger company focused on healthcare properties.
Shareholders preferred PHP's offer over a bid from KKR and Stonepeak Partners, which would have meant they received cash.
This is a good sign for the healthcare property market, suggesting it's ready to bounce back.
PHP's win is part of a broader trend of takeovers in the UK, where companies are being bought and merged.
Primary Health Properties (PHP) won its bid to acquire Assura Plc.
The deal creates the UK's largest publicly traded healthcare landlord.
PHP secured 62.93% of shareholder acceptances, surpassing the 50% needed.
KKR and Stonepeak Partners' bid for Assura was rejected by shareholders.
Shareholders voted for PHP, signaling confidence in sector recovery.
- Who
- Primary Health Properties, KKR, Stonepeak Partners, and Assura shareholders.
- What
- Primary Health Properties acquired Assura.
- Where
- United Kingdom.
- When
- Shareholders voted by Tuesday's deadline.
- Why
- PHP's successful acquisition signals confidence in the primary care property market's recovery.
Key facts
- Acquiring Company
- Primary Health Properties (PHP)
- Acquired Company
- Assura Plc
- Shareholder Acceptance
- 62.93%
- Combined Asset Value
- £5.91 billion
- KKR/Stonepeak Vote
- 5.95%
- PHP's Bid Valuation
- £1.79 billion
