Assura Receives £1.6bn Bid from KKR and Stonepeak
Deal News | Mar 10, 2025 | EIN
Healthcare landlord Assura has received a £1.6 billion bid from American investment firms KKR and Stonepeak. The offer of 49.4 pence per share values the real estate trust at £1.6 billion, including a dividend to be received shortly by Assura shareholders. KKR also recently acquired Smart Metering Systems and has made multiple offers for Assura in the past six months. The company, which owns a substantial number of healthcare facilities in the UK, is considering recommending the proposal if a confirmatory bid follows. As a result of the bid discussions, Assura's shares have spiked 14.2% to 46.5p, making them the top performer in the FTSE 250. Another potential acquisition by Primary Health Properties (PHP) was turned down, as Assura prefers the higher cash value offer from KKR and Stonepeak. PHP has until 7 April to make a decisive bid or withdraw. Meanwhile, foreign acquisitions of London-listed firms are on the rise.
Sectors
- Healthcare Real Estate
- Private Equity and Investment Management
- Mergers and Acquisitions
Geography
- United Kingdom – Assura is based in the UK, with its operations and healthcare facilities also located across the country.
- United States – KKR and Stonepeak, the bidding companies, are based in the US.
Industry
- Healthcare Real Estate – Assura specializes in owning healthcare facilities such as GP surgeries and healthcare centers across the UK.
- Private Equity and Investment Management – KKR and Stonepeak are investment firms engaged in leveraged buyouts and other strategic investments.
- Mergers and Acquisitions – The article discusses acquisition offers and M&A activities involving Assura, Alliance Pharma, and other companies.
Financials
- £1.6 billion – The total value of the acquisition offer from KKR and Stonepeak for Assura.
- 49.4 pence per share – The per-share offer price by KKR and Stonepeak, including the dividend.
- 46.5p – The share price of Assura after the bid announcement.
- 3.2 billion – The total investment value of Assura's properties as of last September.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Assura | Target | Company | A healthcare landlord owning hundreds of GP surgeries and healthcare centers in the UK. |
| KKR | Bidding Company | Company | A New York-based investment firm specializing in leveraged buyouts. |
| Stonepeak Partners | Bidding Company | Company | An American investment firm collaborating with KKR on the bid for Assura. |
| Primary Health Properties (PHP) | Potential Acquirer | Company | A real estate investor that made a merger proposal to Assura. |
| Russ Mould | Investment Director | Person | Investment director at AJ Bell, provided commentary on the M&A situation. |