LONDON (ShareCast) - (Sharecast News) - Healthcare property investment and management firm Assura has delayed an upcoming shareholder vote on the takeover proposal from KKR and Stonepeak as it assesses a competing proposal from Primary Health Properties.
Assura had reached an agreement with KKR and Stonepeak, together known as Sana Bidco, on 9 April regarding a recommended cash offer valuing the company at 49.4p per share.

A meeting was then scheduled for 5 June where shareholders would be required to vote on the offer.

However, on 16 May, PHP re-entered the fray - having had an earlier proposal rejected - with a sweetened bid of 51.7p per share.

As a result, Assura said it has now adjourning next month's meeting after having engaged in further discussions with PHP, and is commencing due diligence to determine whether or not to recommend the PHP offer to shareholders.

"In the context of this continued engagement, the Assura board has decided to adjourn the Court Meeting and the General Meeting required to implement the Cash Offer from Bidco, which are due to be held on 5 June 2025," Assura said.

"It is therefore recommended that Assura Shareholders do not attend the Meetings scheduled for 5 June 2025 and take no further action at this stage in relation to the Cash Offer and the PHP Offer."

Assura shares were flat at 49.12p on Friday morning.

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