---
title: "Bidding war for UK healthcare REIT Assura heats up after new $1.96 billion bid"
description: "Assura, a UK healthcare REIT, has received a new £1.5 billion ($1.96 billion) takeover bid from Primary Health Properties (PHP), marking the seventh bid in recent weeks. The latest offer includes PHP "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/234348135.md"
published_at: "2025-04-03T07:31:17.000Z"
---

# Bidding war for UK healthcare REIT Assura heats up after new $1.96 billion bid

> Assura, a UK healthcare REIT, has received a new £1.5 billion ($1.96 billion) takeover bid from Primary Health Properties (PHP), marking the seventh bid in recent weeks. The latest offer includes PHP shares, cash, and a dividend, valuing Assura at 46.2 pence per share. This proposal is higher than a previous bid of 43 pence per share but lower than a competing offer from KKR and Stonepeak. Shareholders can choose to receive a mix of PHP shares and cash, with a firm offer deadline set for April 11.

Assura gets 7th bid in weeks amid takeover interest

Latest bid offers shareholders PHP shares, cash, and dividend

KKR and Stonepeak have until April 11 for firm offer

April 3 (Reuters) - British healthcare REIT Assura (AGRP.L) said on Thursday it has received a 1.5 billion pound ($1.96 billion) takeover proposal from Primary Health Properties (PHP.L) , above an earlier offer it had rejected, but below what a U.S. private group has proposed.

This is the seventh proposal in as many weeks fielded by Assura, which runs more than 600 healthcare properties with an investment value of more than 3 billion pounds, and counts Britain’s state-backed National Health Service as a customer. The latest one from rival REIT PHP, worth 46.2 pence per share, comes weeks after Assura rejected its 43 pence a share proposal in favour of 49.4 pence per share proposed by a consortium of U.S. private equity group KKR (KKR.N) and Stonepeak Partners.

Under the latest proposal, Assura’s shareholders will get 0.3848 new PHP shares, 9.08 pence in cash, retain a quarterly dividend of 0.84 pence per share, and own 48% of the combined group, Assura and PHP said in a joint statement.

Assura shareholders will also have an option to “mix and match” varying proportions in which they receive new PHP shares and cash, it added.

PHP’s proposed price represents a 23.5% premium to Assura’s closing share price on February 13, the day before Assura received its first takeover approach. Its shares closed at 46.48 pence on Wednesday.

KKR and Stonepeak have until April 11 to make a firm offer. Assura said last month it may recommend a final offer made on the consortium’s latest proposed terms.

KKR and Stonepeak did not immediately respond to a request for comment on PHP’s latest proposal.

($1 = 0.7639 pounds)

### Related Stocks

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- [KKR.US - KKR](https://longbridge.com/en/quote/KKR.US.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.