LONDON: On 3 April 2025, Assura plc announced that its Board had received a revised indicative proposal from Primary Health Properties plc (PHP) concerning a potential share-and-cash offer for the company. Known as the PHP Proposal, the offer was structured on an adjusted net tangible assets (NTA) exchange ratio.
Under the terms of the proposal, Assura shareholders would have received 0.3848 new PHP shares along with 9.08 pence in cash for each Assura share they hold.
After careful consideration with its advisers, the Assura Board concluded that the PHP Proposal did not meet a level sufficient to recommend it to shareholders. Consequently, the Board has unanimously rejected the proposal.
Assura emphasized that there is no certainty a firm offer will be made by PHP in the future. The situation remains under review.