KKR, Stonepeak Secure £1.7bn Assura Acquisition

Assura, a leading UK healthcare property company and NHS landlord, has accepted a £1.7 billion all-cash takeover bid from a consortium led by KKR and Stonepeak Partners. The 52.1p per share offer follows a competitive bidding process, with Primary Health Properties (PHP) submitting a slightly higher bid that included PHP shares. Assura's board favored the KKR-Stonepeak offer for its certainty and minimal execution risk, advising shareholders to disregard the PHP proposal. The acquisition values Assura at a premium to its pre-offer share price and highlights continued international private equity interest in undervalued UK companies. Assura owns and manages over 600 healthcare buildings across the UK. The deal reflects a broader trend of UK firms being taken private by foreign investors.