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LONDON - Sana Bidco Limited, a company owned by funds advised by Kohlberg Kravis Roberts & Co. L.P. (KKR) and Stonepeak Partners LP, reported Monday that it has received zero valid acceptances for its takeover offer of Assura plc as of July 4, 2025.
The consortium currently holds 164,548,145 Assura shares, representing approximately 5.06% of Assura’s existing issued ordinary share capital, which it can count toward satisfying the acceptance condition of its offer.
Bidco’s "best and final" cash offer of 50.42 pence per Assura share was announced on June 11, following Primary Health Properties plc’s (PHP) initial offer on May 16. PHP subsequently announced a revised offer on June 23.
The consortium noted it has not yet received valid acceptances from Assura directors who had provided irrevocable undertakings to accept the offer in respect of 4,638,828 Assura shares.
For the offer to succeed, Bidco needs acceptances representing more than 50% of Assura’s voting rights. The offer remains open for acceptance until 1:00 p.m. London time on August 12, 2025, unless extended.
If the offer becomes unconditional and Bidco acquires at least 75% of voting rights, the company intends to cancel Assura’s listings on both the London Stock Exchange (LON:LSEG) and Johannesburg Stock Exchange. Should Bidco reach 90% ownership, it plans to compulsorily acquire remaining shares.
The information in this article is based on a press release statement from Bidco regarding its offer for Assura.
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