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KKR urges UK's Assura board to back its takeover bid over PHP offer
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KKR urges UK's Assura board to back its takeover bid over PHP offer
Aug 8, 2025 1:14 AM

LONDON, Aug 8 (Reuters) - Private equity fund KKR has

urged the board of British healthcare real estate investor

Assura to back its takeover bid and withdraw its

support for a rival offer from Primary Health Properties ( PHPRF )

.

KKR, which is leading the bid with Stonepeak Partners, said

in a statement on Friday it had met with the board of Assura in

recent days to lobby for its own cash takeover of the company

after Assura backed an offer from London-listed PHP in June.

The U.S.-based private equity firm and PHP were locked in a

takeover battle for Assura for months before Assura's board

backed PHP's higher $2.4 billion bid in June.

KKR said a number of factors had changed since Assura

decided to back PHP's offer, including a decline in the share

price of both companies which has raised the premium of its own

cash offer.

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