Bullish indicating open at $55-$60, IPO prices at $37
LONDON - Kohlberg Kravis Roberts & Co. L.P. (KKR) announced Tuesday that its takeover offer for Assura plc has lapsed after failing to secure the required level of shareholder acceptances.
The "best and final increased cash offer" made by Sana Bidco Limited, a company indirectly owned by funds advised by KKR and Stonepeak Partners LP, received valid acceptances representing only 16.56% of Assura’s existing issued ordinary share capital by the deadline of 1:00 p.m. London time on August 12.
The acceptance condition required Bidco to receive acceptances representing more than 50% of Assura’s voting rights. By the deadline, Bidco had received valid acceptances for approximately 539,558,685 Assura shares, falling significantly short of the threshold needed.
Bidco currently holds 164,548,145 Assura shares, representing 5.05% of the company’s issued ordinary share capital.
According to the announcement, Assura informed Bidco that all Assura Directors who had given irrevocable undertakings to accept the offer had instructed their brokers to do so for their combined 4,811,471 shares. However, Bidco’s receiving agent was unable to separately identify these acceptances in the total count.
As a result of the offer lapsing, all acceptances cease to be binding, and share certificates or other documents of title will be returned to shareholders within seven calendar days.
The takeover bid was first announced on June 11, 2025, with the full terms and conditions published and distributed to Assura shareholders on July 1, 2025.
This information is based on a press release statement issued by KKR.
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