Assura says PHP offer due diligence still ongoing
By Benjamin Chiou
Date: Friday 06 Jun 2025
(Sharecast News) - Healthcare property investment and management firm Assura has confirmed that due diligence in relation to a takeover proposal from Primary Health Properties is still ongoing, with both parties "working closely" together.
Due diligence in relation to PHP's 51.7p-a-share offer has been taking place over the past two weeks, and reciprocal due diligence "remains ongoing".
"The provision of due diligence materials continues and Assura is working closely with PHP to ensure that the process moves forward in a timely manner," the company said.
Assura had previously warmed to a 49.4p-a-share offer from KKR and Stonepeak, originally proposed on 9 April; though PHP re-entered the bidding war on 16 May with a sweetened bid, after having an earlier proposal been rejected.
The company then said on 23 May that had it intended to put off a court meeting and general meeting required to implement the initial offer from KKR and Stonepeak, together known as Sana Bido.
"Assura confirms that, on 5 June 2025, the meetings were formally adjourned until further notice," the company said on Friday.
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