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Stock Market & Financial Investment News

News Breaks
June 2, 2014
06:49 EDTVTR, HCTVentas to acquire American Realty Capital for $2.6B in stock and cash
Ventas (VTR) and American Realty Capital Healthcare Trust (HCT) announced that the Boards of Directors of both companies have unanimously approved a definitive agreement under which Ventas will acquire all of the outstanding shares of ARC Healthcare in a stock and cash transaction valued at $2.6B, or $11.33 per ARC Healthcare share, solidifying Ventasís position as the global leader in senior living and medical office buildings. In the transaction, ARC Healthcare shares will generally be converted into a fixed number Ventas shares, based upon a negotiated Ventas stock price of $67.13. In the transaction, ARC Healthcare shareholders will have the option to elect to receive either 0.1688 Ventas common shares or $11.33 in cash for each share of ARC Healthcare common stock they own. Based upon the agreed upon Ventas stock price of $67.13, the per share value of the transaction represents a premium to ARC Healthcare shareholders of approximately 14% over ARC Healthcareís closing stock price on May 30. The cash portion of the consideration is subject to a cap of ten percent of ARC Healthcareís outstanding common stock. Assuming a ten percent cash election, the stock component of the consideration will consist of Ventas issuing to ARC Healthcare shareholders approximately 26.9 million shares of Ventas common stock, currently valued at $1.8B. Upon closing of the transaction, ARC Healthcare shareholders are expected to own approximately eight percent of Ventasís 321 million shares of common stock then outstanding. The transaction is expected to close in Q4, subject to the approval of ARC Healthcare shareholders and satisfaction of customary closing conditions. Ventas also announced that it will acquire 29 independent living seniors housing communities located in Canada from Holiday Retirement in a separate transaction for $900M in cash. The transaction is expected to close in Q3. The transactions are expected to be immediately accretive to Ventasís 2015 normalized FFO by at least 10c per share and have an expected unlevered yield of approximately 6%.
News For VTR;HCT From The Last 14 Days
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July 23, 2014
10:02 EDTVTROn The Fly: Analyst Initiation Summary
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05:50 EDTVTRVentas initiated with a Buy at Mizuho
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