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LONDON - Primary Health Properties PLC (PHP) announced on Tuesday that its revised offer to acquire Assura Plc has been declared wholly unconditional after receiving valid acceptances representing approximately 62.93% of Assura’s issued ordinary share capital.
The acceptance level surpassed the required threshold of 50% of voting rights, allowing PHP to take significant control of Assura. The company can now ensure approval or rejection of ordinary resolutions and determine Assura’s overall strategy, subject to any restrictions required by the UK Competition and Markets Authority.
Under the terms of the deal, Assura shareholders will receive 0.3865 new PHP shares and 12.5 pence in cash for each Assura share. Additionally, Assura has declared a special dividend of 0.84 pence per share, which will be paid to shareholders on the register as of 6:00 p.m. London time on August 12.
PHP noted that the Mix and Match Facility, which allowed shareholders to elect for either more shares or more cash, is now closed. Shareholders who have not yet made an election will receive the base consideration package.
The revised offer was first announced on June 23, 2025, with the revised offer document published on June 27, supplementing the original offer document from June 13.
PHP confirmed that all remaining conditions to the revised offer have been satisfied or waived, and withdrawal rights have ceased to be exercisable. The offer will remain open for acceptance until further notice, with PHP committing to provide at least 14 days’ notice before closing the offer for acceptances.
This announcement follows the recommended combination of the two companies, which was implemented through a takeover offer under Part 28 of the Companies Act 2006, according to the press release statement.
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