(Reuters) -British healthcare REIT Assura on Monday said that Britain’s Takeover Panel has extended the deadline for its potential deal with Primary Health Properties to May 5. The PUSU deadline, known as the “put up or shut up” date, requires a potential bidder to either make a firm offer for the target by this date […]
Health
UK’s Assura gets deadline extension for potential PHP deal
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(Reuters) -British healthcare REIT Assura on Monday said that Britain’s Takeover Panel has extended the deadline for its potential deal with Primary Health Properties to May 5.
The PUSU deadline, known as the “put up or shut up” date, requires a potential bidder to either make a firm offer for the target by this date or walk away.
Assura, which manages over 600 healthcare properties with an investment value exceeding 3 billion pounds ($3.84 billion), counts Britain’s state-backed National Health Service as a customer.
It has fielded seven proposals from PHP and a U.S. consortium of KKR and Stonepeak Partners in recent weeks.
Shares of Assura opened lower, in line with the London market, but reversed some losses following the announcement. By 1406 GMT, shares were down 2.1% at 44.9 pence.
The company said it remains in discussions with the consortium about a potential deal.
($1 = 0.7817 pounds)
(Reporting by Aby Jose Koilparambil and Yamini Kalia in Bengaluru; Editing by Tasim Zahid)