Assura rejects £1.5bn merger offer from PHP

(Sharecast News) - Assura has rejected a £1.5bn merger proposal from Primary Health Properties, saying it "is not at a level that is sufficient to be recommended to shareholders". Under the terms of the PHP Proposal, Assura shareholders would receive 0.3848 new PHP shares and 9.08 pence in cash.

Assura on Monday said it remains in talks with a consortium of private equity firms KKR and Stonepeak about a possible cash offer.

"There can be no certainty that any firm offer will be made by the consortium, by PHP or by any other party," it added.

Reporting by Frank Prenesti for Sharecast.com