By Ian Walker
Assura said the deadline for the KKR and Stonepeak Partners consortium to make an offer for the company has been extended so that the parties can continue talks and the due diligence process.
The London-listed property business said Friday that the deadline for the consortium to either make an offer for it or walk away has been extended to April 11 from today.
On Monday, Assura said it had received an improved 1.61 billion pound ($2.09 billion) takeover approach from the consortium which it would be prepared to recommend to shareholders if a formal proposal was made.
The offer tabled was for 49.4 pence-a-share, a premium of nearly 32% to the company's closing price of 37.4 pence on Feb. 13. It was also a 2.9% increase from KKR's previous proposal of 48 pence a share that was rejected on Feb. 18. This was the fifth indicative nonbinding proposal from KKR to the board of Assura.
Shares were up 0.14 pence, or 0.3%, at 46.52 pence in mid-afternoon European trading. They are currently up 21% over the year to date and 19% higher over the past three months.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
March 14, 2025 10:20 ET (14:20 GMT)
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