Bidding war for surgery firm Assura heats up
The bidding war for GP surgery owner Assura intensified after a major NHS landlord made a rival offer of nearly £1.7billion.
Assura's board last night said it would review the latest approach from Primary Health Properties (PHP) after accepting a £1.6billion bid from American buyout giant KKR last month.
Analysts said that the PHP bid was the more attractive option for Assura shareholders.
The tussle has seen both parties up their offers several times to try and clinch a deal.
Both Assura and PHP own doctors' surgeries, hospitals and hospices across the UK, and are major landlords to the NHS.
KKR, one of the biggest private equity outfits in the States, has teamed up with New York investment firm Stonepeak for its takeover attempt.
PHP has offered 51.7p per share for Assura, valuing it at £1.68billion. In comparison, KKR's bid was 49.4p per share or £1.61billion.
A deal with the private equity giant would see Assura become the latest firm to leave London's struggling stock market.
Oli Creasey, head of property research at asset manager Quilter Cheviot, said: 'The PHP bid appears superior in financial terms.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
18 minutes ago
- The Sun
Primark opening new type of store in Britain for first time and shoppers will be thrilled
PRIMARK is set to open a brand new type of store just in time for summer. The bargain retailer is due to bring a new model of shop to the UK high street in the coming months. A new 11,900 sq ft, two floor shop is set to open in Manchester at the Trafford Palazzo. It will be the first ever dedicated Primark Home store to open in the UK. Primark have said the shop will bring together "the best of Primark's interiors offering under one roof." It will host an expanded range of homeware and lifestyle essentials for Manchester shoppers to browse and buy. The move comes following the firms first ever dedicated Primark Home store was opened in Belfast earlier this year. The new location in Manchester will also include a dedicated travel shop to help customers get holiday-ready. Paul Baldwin, Trading Director for Home at Primark said: 'Our mission is simple: to make it easy for everyone to create a home they love, without breaking the bank. "Customer reaction to our first Primark Home store in Belfast has been really positive, and we can't wait to bring this exciting new concept to Great Britain later this summer. "Homes have become more than just places to live, they're an extension of our personalities, so whether it's soft furnishings, statement tableware, or smart storage solutions you're after, our range has something for every style and budget.' An exact date for the stores opening hasn't been given by the retailer yet but it is expected to come this summer. 'One of each please,' shoppers race to Primark for adorable cosy homewear The new store will stock all manner of high-quality essentials like cotton bedding and towels, soft furnishings, small furniture and quirky ceramics. Trafford Palazzo is already home to one Primark location with the new store adding to the retailers offering on the site. Primark stores usually stock a full range of goods from clothes, to home to holiday essentials. For the first time ever Primark will now stock just homeware in a store. The fashion retailer currently employs over 80,000 people internationally. 2 Primark is known for its budget options and huge range, offering an extensive selection of goods at a low price. The retailer boasts over 460 stores globally with the new Primark Home in Manchester boosting this number further. According to the retailer: " Primark Home combines style, comfort and value to help shoppers make a house a home." Thrilled shoppers took to social media to show their excitement for the new stores launch. One user said: "You've got some great home stuff please make this department bigger and give us trolleys." Another commented: "I need one of everything, and two cushions." A third replied: "We need this store in Kalamazoo Michigan." Why Primark is great for looking expensive on a budget By Clemmie Feildsend, Fabulous Fashion Editor AS someone who's no stranger to grabbing a last-minute outfit from Primark for a night out, it's about time that celebrities started catching on too. For as long as I've been heading out, Primark has been my go-to for those 'I have nothing to wear' moments, rushing in at the last minute to find something perfect. And I'm definitely not alone - on any Friday or Saturday night, you'll find plenty of shoppers doing the same thing, right before closing time. But no matter what, Primark always delivers. Now, Rita Ora is leading the charge, showing that you can snag a designer-worthy look without spending a fortune at high-end stores. While Rita's not rushing in last minute for a red carpet outfit, she's proving you can achieve the same high-impact style for much less. Looking stunning in her tailored suit alongside her mum Vera, Rita fit right in among the other A-listers dripping in Prada, Dior, and Victoria Beckham - if anything, she looked even better than some of the guests at The Fashion Awards. With Myleene Klass and Roxy Horner already jumping on the Primark bandwagon, I'm sure more stars will be following suit soon enough.
The Herald Scotland
22 minutes ago
- The Herald Scotland
Reeves announces £6 billion to provide millions of NHS tests and procedures
The announcement comes after the Chancellor put NHS funding at the heart of her spending review on Wednesday, raising its budget in a move worth £29 billion a year. This comes, however, at the expense of other areas of public spending. The new £6 billion funding will help to meet the Government's target of reducing NHS waiting lists in England, the Chancellor claimed. 'Over a decade of underinvestment from the previous government put the NHS on its knees, with people across the country unable to get the care they need. We are investing in Britain's renewal, and we will turn that around,' Ms Reeves said. She added: 'Part of our record investment will deliver four million tests, scans and procedures, so hard-working people can get the healthcare they and their families need. 'There is no strong economy without a strong NHS, and we'll deliver on our Plan for Change to end the hospital backlog, improve living standards and get more money in people's pockets.' The latest spending commitment will help patients get access to diagnostic scans and treatment in places such as shopping centres and high streets, speeding up their diagnoses. The Government hopes this will help to cut NHS waiting lists, meeting Labour's goal of ensuring the health service carries out 92% of routine operations within 18 weeks. Health Secretary Wes Streeting said: 'Since taking office we have been relentless in our drive to cut waiting times for patients, delivering over 3.6 million extra elective care appointments and reducing the overall waiting list by over 200,000. 'The £6 billion investment we are announcing today will generate millions more vital diagnostic tests, scans and procedures for patients across the country.' On Wednesday evening, Ms Reeves said the Government was 'confident' it could meet its pledge to reduce waiting lists after giving the NHS a 3% annual increase in funding at the spending review. Chancellor of the Exchequer Rachel Reeves during a visit to St Thomas' Hospital in London, following the spending review (Carl Court/PA) Some health leaders are, however, sceptical that the Government will meet its target, despite the funding boost provided at the spending review. Matthew Taylor, chief executive of the NHS Confederation, which represents all health organisations, warned 'difficult decisions will still need to be made as this additional £29 billion won't be enough to cover the increasing cost of new treatments, with staff pay likely to account for a large proportion of it'. He added: 'So, on its own, this won't guarantee that waiting time targets are met.' Sarah Woolnough, chief executive of the King's Fund charity, said: 'The Chancellor said she wants the public to have an NHS there when they need it. 'It is hard to see how all the things she mentions: faster ambulance times, more GP appointments, and adequate mental health services and more can be met on this settlement alone. 'Particularly when large parts of this additional funding will be absorbed by existing rising costs, such as the higher cost of medicines, which are currently being negotiated, and covering staff pay deals.'
Western Telegraph
26 minutes ago
- Western Telegraph
Reeves announces £6 billion to provide millions of NHS tests and procedures
New scanners, ambulances and urgent treatment centres are among the things which the additional cash will pay for, with the aim of providing up to four million more tests and procedures over the next five years. The announcement comes after the Chancellor put NHS funding at the heart of her spending review on Wednesday, raising its budget in a move worth £29 billion a year. This comes, however, at the expense of other areas of public spending. The new £6 billion funding will help to meet the Government's target of reducing NHS waiting lists in England, the Chancellor claimed. 'Over a decade of underinvestment from the previous government put the NHS on its knees, with people across the country unable to get the care they need. We are investing in Britain's renewal, and we will turn that around,' Ms Reeves said. She added: 'Part of our record investment will deliver four million tests, scans and procedures, so hard-working people can get the healthcare they and their families need. 'There is no strong economy without a strong NHS, and we'll deliver on our Plan for Change to end the hospital backlog, improve living standards and get more money in people's pockets.' The latest spending commitment will help patients get access to diagnostic scans and treatment in places such as shopping centres and high streets, speeding up their diagnoses. The Government hopes this will help to cut NHS waiting lists, meeting Labour's goal of ensuring the health service carries out 92% of routine operations within 18 weeks. Health Secretary Wes Streeting said: 'Since taking office we have been relentless in our drive to cut waiting times for patients, delivering over 3.6 million extra elective care appointments and reducing the overall waiting list by over 200,000. 'The £6 billion investment we are announcing today will generate millions more vital diagnostic tests, scans and procedures for patients across the country.' On Wednesday evening, Ms Reeves said the Government was 'confident' it could meet its pledge to reduce waiting lists after giving the NHS a 3% annual increase in funding at the spending review. Chancellor of the Exchequer Rachel Reeves during a visit to St Thomas' Hospital in London, following the spending review (Carl Court/PA) Some health leaders are, however, sceptical that the Government will meet its target, despite the funding boost provided at the spending review. Matthew Taylor, chief executive of the NHS Confederation, which represents all health organisations, warned 'difficult decisions will still need to be made as this additional £29 billion won't be enough to cover the increasing cost of new treatments, with staff pay likely to account for a large proportion of it'. He added: 'So, on its own, this won't guarantee that waiting time targets are met.' Sarah Woolnough, chief executive of the King's Fund charity, said: 'The Chancellor said she wants the public to have an NHS there when they need it. 'It is hard to see how all the things she mentions: faster ambulance times, more GP appointments, and adequate mental health services and more can be met on this settlement alone. 'Particularly when large parts of this additional funding will be absorbed by existing rising costs, such as the higher cost of medicines, which are currently being negotiated, and covering staff pay deals.'
