Gold prices bounce off 3-week lows; demand likely longer term
LONDON - Primary Health Properties PLC (LSE:PHP) announced Wednesday it is considering its options following a recommended "best and final" cash offer for Assura plc (LSE:AGR) from Sana Bidco Limited, according to a company press release.
PHP, which had made its own firm offer for Assura on May 16, stated it "strongly disagrees" with the Assura Board’s assessment of its proposal and plans to provide detailed views on the matter soon.
The healthcare property investor highlighted the UK Government’s spending review announced today as "positive" for both companies, citing a 3 percent annual increase to the NHS day-to-day budget in real terms, equivalent to approximately £29 billion in additional funding per year.
PHP also expressed optimism about the upcoming 10-year healthcare plan, which it expects will "provide a boost to primary care" as government policy shifts toward community, primary and preventive care.
The company advised Assura shareholders to "take no action" in response to the Bidco announcement while it evaluates its position. PHP indicated it will make another announcement "when appropriate."
The competing bids for Assura come amid increased investment interest in healthcare infrastructure in the UK, particularly properties serving the primary care sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.