Ventas Agrees to Acquire Nationwide Health for $5.7 Billion |
| BusinessWeek - Feb 28, 2011 |
Ventas Inc., the owner of more than 600 senior-care and medical properties, agreed to buy Nationwide Health Properties Inc. for about $5.7 billion in the biggest deal ever for health-care real estate investment trusts.
Ventas will pay 0.7866 of its stock for each Nationwide share, the Chicago-based company said today in a statement. That’s equal to about $44.99 as of Ventas’s closing share price on Feb. 25, a 15 percent premium to Nationwide’s close that day. The Newport Beach, California-based company has about 126.3 million shares outstanding.
The deal will form the largest health-care REIT in the U.S., according to the statement. Property deals are rising in the industry as real estate values recover. HCP Inc., currently the biggest U.S. health-care REIT by market value, agreed in December to buy 338 properties from Carlyle Group’s HCR ManorCare Inc. for $6.1 billion.
Read Full Article from BusinessWeek
- Posted: 2011-02-28 09:55:33
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