UK Landlord Assura Rejects KKR’s £1.6 Billion Takeover Bid

The board of health-care landlord Assura Plc has rejected a £1.56 billion ($2 billion) takeover offer by funds managed by KKR & Co., causing its shares to jump the most in fifteen years.

The 48 pence a share offer — the fourth made to the company over the past six months — represents a roughly 28% premium to the company’s closing share price on Feb. 13 before the bid became public, according to a statement Monday. Still, the offer represents a discount of 2.8% to Assura’s net asset value which was 49.4 pence as of Sept. 30, it said.