Primary Health Properties offer to Assura shareholders closes
Primary Health Properties PLC said on Thursday its offer to acquire its peer Assura PLC has formally closed.
The London-based healthcare facility investor owned 98.0% interest in Assura as of Monday, up from 94.7% previously. The revised offer closed for acceptances at 1300 BST on Wednesday, PHP said.
This comes less than a week after Assura said on Friday last week it planned to delist from the London Stock Exchange and the Johannesburg Stock Exchange, on the request of PHP.
PHP also said on Thursday it has applied for its 44.8 million new shares to be admitted to trade on the London Stock Exchange and the Johannesburg Stock Exchange.
The new PHP shares are expected to be admitted and commencement of dealings to become effective at 0800 BST on Friday.
PHP’s takeover of Assura remains under antitrust scrutiny in the UK.
UK Competition & Markets Authority on Wednesday last week said it was considering whether the acquisition by PHP of Manchester-based peer Assura would harm competition in the UK.
The CMA has a deadline of October 29 for its phase one decision.
The PHP-Assura deal became unconditional on August 12, following a bidding war by PHP against US private equity firm Kohlberg Kravis Robert & Co Inc. The KKR-led consortium abandoned its takeover offer for Assura on the same day.
Shares in PHP were up 0.6% at 89.20 pence in London on Thursday afternoon, and they rose 0.1% at R 20.93 in Johannesburg.
Copyright 2025 Alliance News Ltd. All Rights Reserved.