Assura extends deadline for Primary Health Properties to make firm offer

Healthcare property business Assura has extended the deadline for the proposed merger by Primary Health Properties.

In a market statement the Assura board said it is “is in the process of carefully considering” PHP’s proposal to pay less per share for the business than a rival offer from private equity giant KKR.

The Takeover Panel granted an extension until 5 May 2025 for PHP to either to announce a firm intention to make an offer for Assura or to formally announce it won’t. 

The statement said: “The Board’s objective is to maximise value for Assura shareholders. The Board will therefore continue to share due diligence materials, and to hold due diligence meetings, with PHP as it has done since 14 March 2025.”

Assura and its advisers are still it talks with KKR and Stonepeak regarding a possible cash offer for the business.