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News Breaks | | | | June 18, 2012 | | 08:37 EDT |  | VTR, ALC | Ventas sells 12 communities to Assisted Living for $100M
Ventas (VTR) announced that it has sold twelve seniors housing communities to Assisted Living Concepts (ALC) for a total of $100M in cash. Prior to the sale, ALC was the tenant of the communities. At closing, the leases were terminated, Ventas no longer owns any assets that ALC operates, and the parties agreed to dismiss their pending litigation in the U.S. District Court for the Northern District of Illinois. Ventas’s total annual base rent under its leases with ALC approximated $7.2M on a GAAP basis and $6.6M on a cash basis. The twelve communities sold to ALC contain 696 units in five states. Under the terms of the transaction, ALC also paid Ventas’s expenses in connection with the litigation. | |
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News For VTR;ALC From The Last 14 Days Check below for free stories on VTR;ALC the last two weeks. |
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| May 16, 2013 | | 13:23 EDT | | ALC | Assisted Living shareholders approve acquisition by TPG
Assisted Living announced that its stockholders voted to approve the previously announced merger agreement with affiliates of TPG. Under the terms of the merger agreement, ALC stockholders will receive $12.00 in cash for each share of Class A common stock. In accordance with the ALC charter, based on the Class A per share merger consideration, holders of ALC's Class B common stock will receive $12.90 in cash per share. | |
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