KKR Weighs Its Next Move—But the Clock Is Ticking
The rejection means that under UK Takeover Code rules, USS is now locked out from making another approach for six months—unless a competing bidder steps in. KKR, on the other hand, has until March 14 to declare its intention to launch a firm offer or abandon the pursuit.
For now, the private equity titan remains tight-lipped but has hinted that it is reassessing whether further engagement with Assura’s board is worth the effort.
The Board’s Steely Resolve
Assura, which remained silent on Monday following the rejection, had previously described KKR’s approach as “preliminary and unsolicited.” On Friday, the company advised shareholders to take no action, emphasizing its confidence in its long-term prospects.
“The board remains confident in the long-term prospects of the company and believes that Assura is strongly positioned to create value for shareholders,” Assura stated.
While White & Case LLP has been identified as legal counsel for USS, no legal representation details for the other parties have surfaced yet.
