Intel stock spikes after report of possible US government stake
LONDON - Assura plc’s board has unanimously recommended that shareholders take no action regarding the cash offer from Sana Bidco Limited, according to a response document published Tuesday.
The document, issued in accordance with the City Code on Takeovers and Mergers, details the board’s reasoning for its recommendation against the bid from Sana Bidco, a newly formed company indirectly owned by funds advised by Kohlberg Kravis Roberts & Co. L.P. (KKR) and Stonepeak Partners LP.
Sana Bidco published its offer document on July 1 for the entire issued and to be issued share capital of Assura, a healthcare real estate investment trust. The response document has been posted to Assura shareholders and made available on the company’s website.
The response comes two weeks after Sana Bidco’s initial offer document was published. Neither the financial terms of the offer nor specific objections to the bid were detailed in Assura’s announcement about the response document.
Assura’s board stated its position clearly in the announcement: shareholders should take no action regarding their shares in relation to the offer from Bidco.
The response document is part of the formal process required under UK takeover regulations, which mandate that target companies provide shareholders with the board’s official position on any takeover offers.
Based on a press release statement, the response document contains the detailed rationale behind the board’s unanimous recommendation to shareholders.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.