CMA looking into PHP's proposed Assura takeover

(Sharecast News) - UK watchdog the Competition and Markets Authority said on Friday that it was now looking into Primary Health Properties' proposed takeover of NHS landlord Assura. Primary Health Properties put forward its fourth bid for Assura, which valued the firm at £1.79bn, following a lengthy bidding war with a consortium led by US private equity outfit KKR.

On Friday, the Competition and Markets Authority said it was now "investigating" the deal in order to gather information before potentially launching a formal phase one investigation.

CMA said the companies and others impacted by the propsed deal now have two weeks to provide submissions. The regulator also said it would look into whether the takeover "may be expected to result in a substantial lessening of competition" in the healthcare sector. Following submissions, the CMA will then decide if the proposed sale falls within its jurisdiction.









Reporting by Iain Gilbert at Sharecast.com