Investing.com -- The consortium led by KKR & Co (NYSE: KKR ). has increased its takeover offer for Assura Plc, a UK health-care landlord, by nearly 3%.
This move comes after Assura Plc rejected a previous bid from the group.
In a recent filing, KKR and Stonepeak Partners proposed a potential cash offer of 49.4 pence per share, pushing the company’s valuation to £1.61 billion ($2.08 billion).
The new bid represents a premium of approximately 32% to Assura’s closing price on February 13.
The board of Assura Plc has chosen to engage with the consortium regarding the revised terms of the offer.
The company also disclosed that it had received a non-binding all-share proposal from Primary Health Properties, which valued Assura at 43 pence per share, but this offer was rejected.
The consortium’s prior offer, managed by KKR, priced Assura shares at 48 pence each, which placed the company’s value at around £1.56 billion. The new offer represents a significant increase from the previous bid.
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