Assura takeover battle heats up as PHP outbids KKR-Stonepeak
May 16 (Reuters) - British healthcare REIT Primary Health Properties (PHP) (PHP.L), opens new tab has offered a cash-and-stock deal to buy peer Assura (AGRP.L), opens new tab for about 1.68 billion pounds ($2.23 billion), outbidding rival suitors KKR (KKR.N), opens new tab and Stonepeak Partners.
British medical property owner Assura agreed to a 1.61 billion pound takeover bid from KKR (KKR.N), opens new tab and Stonepeak Partners in early April, after rejecting a lower bid from PHP.
PHP's new offer values Assura at 51.7 pence, including dividend. That compares with 49.4 pence-per-share offered by KKR and Stonepeak.
($1 = 0.7531 pounds)
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