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LONDON - The UK Takeover Panel has established August 12, 2025, as the deadline for competing acquisition offers for Assura plc, according to a regulatory announcement released Thursday.
The panel confirmed that both Sana Bidco Limited and Primary Health Properties PLC (PHP) must satisfy or waive all conditions for their respective offers by this date, or the bids will lapse.
Sana Bidco, a company owned by funds advised by Kohlberg Kravis Roberts & Co. L.P. and Stonepeak Partners LP, initially announced a recommended cash offer for Assura on April 9. This was followed by a competing shares and cash offer from PHP on May 16.
The acquisition contest intensified on June 11 when Sana Bidco announced a "best and final increased cash offer" while switching from a scheme of arrangement to a contractual offer structure. Subsequently, on June 23, PHP countered with an increased shares and cash offer that gained the Assura board’s recommendation, prompting them to withdraw support for the Sana Bidco offer.
The Takeover Panel’s ruling establishes a common deadline for both competing bids, with all parties accepting the August 12 cutoff date.
Assura, a UK-based healthcare real estate investment trust, has become the target of this bidding competition between private equity-backed Sana Bidco and industry competitor PHP.
The announcement was made through the Regulatory News Service (RNS) of the London Stock Exchange (LON:LSEG), based on information provided in a press release statement from the Takeover Panel.
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