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.