KKR’s Final Offer Values Landlord Assura at £1.7 Billion (2)

A consortium led by KKR & Co. raised its bid in a takeover battle for Assura Plc, valuing the UK healthcare landlord at £1.7 billion ($2.3 billion).

KKR and its co-bidder, Stonepeak Partners LP, sweetened their cash offer to an implied total value of 52.1 pence for each Assura share, inclusive of declared dividends, according to a statement on Wednesday. That compares with the 51.7 pence put forward by rival Primary Health Properties Plc earlier.

The board of Assura has recommended the KKR-led group’s latest offer to shareholders in the belief that it provides the certainty of cash, ...