Assura has joined a growing list of UK companies being bought out and taken private by foreign private equity firms attracted by low valuations.
The statement said that KKR and Stonepeak understand that Assura's capital-intensive strategy can be more effectively supported through private ownership, which will allow for sustainable capital investments without the need to sell assets.
The US private equity firm has offered to buy Assura for 49.4 pence per share. The offer was the fifth involving KKR and represents a 33.5% premium to the closing price on February 13, the day before the first offer was disclosed.
Under the terms of the deal, shareholders will receive 48.56 pence in cash for each share they hold and a quarterly interim dividend of 0.84 pence, which was due to be paid on April 9.
Assura, whose clients include the National Health Service, said it intended to recommend that shareholders vote in favor of the deal.
“The cash offer from KKR and Stonepeak presents Assura shareholders with an attractive opportunity to immediately crystallize value,” said CEO Jonathan Murphy.
Source: Reuters
