Assura plc (AGR.L) announced on Tuesday that it has formally rejected the non-binding proposal from KKR, asserting that the proposal significantly undervalued the company and its future prospects. Furthermore, shareholders are advised to refrain from taking any action.
On 13 February 2025, KKR submitted a non-binding proposal to the Assura Board concerning a potential cash offer for the entirety of the issued share capital of the company, proposing a price of 48 pence per share.
The Assura Board stated that it thoroughly evaluated the proposal alongside its advisors and determined that it substantially undervalued the company and its potential. Consequently, the Board rejected the proposal unanimously. As of now, no additional proposals have been received from KKR.
The Board of Assura has also noted the recent communication from USS Investment Management Limited, indicating its decision not to pursue an offer for Assura, either as part of a consortium with KKR or through any other means, except under the conditions specified in USSIM's announcement.
The Board remains confident in the long-term prospects of the company and is convinced that Assura is well-positioned to generate value for its shareholders.
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