Following Assura plc's (AGR.L) announcement on February 14, 2025, Kohlberg Kravis Roberts & Co. L.P. (KKR), acting as an advisor to its affiliated investment funds and separately managed accounts, has confirmed the submission of four indicative non-binding proposals to the Assura Board. The proposals, including the most recent one sent on February 13, 2025, at 48.0 pence per share, pertain to a potential cash offer for the entire issued and to be issued share capital of Assura.
The Latest Proposal values the fully diluted ordinary share capital of Assura at 1.562 billion pounds and represents a 28.2% premium to the closing share price of 37.4 pence on February 13, 2025, the date of the Latest Proposal.
This follows significant work over the past six months, resulting in three previous written proposals made to the Assura Board, all of which were unanimously rejected. On February 15, Assura also rejected the Latest Proposal.
KKR believes that the terms of the latest proposal offer a highly attractive opportunity for Assura shareholders to realise their investment in cash at a significant premium to prevailing market prices.
KKR stated that it is considering whether there is any merit in continuing to engage with the Board. There can be no certainty that a firm offer for the company will be made. A further announcement will be made as and when appropriate.
As per the U.K's rule, KKR must, by not later than 5.00 pm (London time) on 14 March 2025, being 28 days after 14 February 2025, either announce a firm intention to make an offer for the Company or announce that it does not intend to make an offer. This deadline will only be extended with the consent of the Takeover Panel.
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