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LONDON - Assura plc, a UK-based healthcare real estate investment trust, has been granted an extension for the Put Up or Shut Up (PUSU) deadline concerning a potential acquisition offer by a consortium consisting of private equity firms Kohlberg Kravis Roberts & Co. Partners L.L.P. (KKR) and Stonepeak Partners (UK) LLP. The Takeover Panel has agreed to push the deadline to 5.00 pm London time on April 11, 2025.
On Monday, Assura had disclosed receiving a non-binding, indicative proposal from the consortium for an all-cash acquisition of the company’s issued and to-be-issued share capital. The extension will provide the consortium with additional time to conduct due diligence and continue discussions with Assura.
Under the Takeover Code’s rules, the consortium must now declare by the new deadline whether it intends to make a firm offer or not. If they choose not to proceed with an offer, this decision will be treated as a statement under Rule 2.8 of the Code, effectively precluding them from making another offer for a specified period.
It is important to note that there is no certainty that a firm offer will be made by the consortium or any other party. This announcement has been made with the approval of the consortium and contains inside information as per the regulatory framework.
The potential acquisition is subject to standard regulatory procedures and the fulfillment of certain conditions. Assura’s shareholders and the market will be kept informed of any significant developments in accordance with the applicable regulations.
This news article is based on a press release statement from Assura plc.
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