India, May 16 -- Primary Health Properties plc (PHP) Friday announced a recommended takeover offer for Assura (AGR) valued at 51.7 GBp per share, comprising 0.3769 new PHP shares and 12.5 p in cash.
Assura shareholders will also retain April and July dividends totalling up to 1.68 p. At PHP's May 15 closing price of 99.5 GBp, the deal values Assura at approximately 1.68 billion GBp, topping a rival 49.4 p cash bid.
The combined group will control a 6 billion GBp portfolio of long-let healthcare properties across 200 countries, boost scale as the ninth-largest UK REIT, and unlock an estimated GBp 9 million in annual cost synergies.
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