NHS landlord Assura backs takeover by PHP in boost for London
Assura shareholders had until Tuesday to decide whether to take the cash offer tabled by KKR and Stonepeak Partners, its bidding partner, or merge with Primary Health Properties (PHP) instead.
Both sides needed a simple majority to claim victory. Defying expectations of a closer vote, 62.9 per cent backed the PHP merger. KKR and Stonepeak got less than 17 per cent.
Andrew Saunders, a real estate industry analyst at Peel Hunt, said it was 'not only a victory for [PHP] but also one for critical UK infrastructure, the UK stock market, the delivery of healthcare in the British Isles and society at large in our view'.
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