Assura Takeover Battle Challenges Slew of Private Equity Deals

Assura Plc is engaging with a bid from rival Primary Health Properties Plc, a move that threatens to derail its sale to private equity and that could signal a shift in the wave of consolidation sweeping listed real estate.

The healthcare landlord “has commenced due diligence in relation to PHP to determine whether to recommend the PHP offer to Assura shareholders,” according to a statement Friday. “The Assura board has decided to adjourn the court meeting and the general meeting required to implement the cash offer” from funds managed by KKR & Co. and Stonepeak Partners LP that it ...