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Stock Market & Financial Investment News

News Breaks
June 2, 2014
06:49 EDTHCT, VTRVentas 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 Ventas’s 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 Healthcare’s closing stock price on May 30. The cash portion of the consideration is subject to a cap of ten percent of ARC Healthcare’s 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 Ventas’s 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 Ventas’s 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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September 28, 2015
17:36 EDTVTRVentas promotes Liebbe to Chief Accounting Officer
Ventas said that it has promoted Gregory Liebbe to SVP, Chief Accounting Officer and controller, effective immediately. Liebbe will continue to report to EVP and CFO Robert Probst, who has held the position of Chief Accounting Officer on an interim basis after he joined the company in 2014. Liebbe has worked in Ventas's accounting functions since joining the company in 2007. Most recently, he was VP, accounting, a position he had held since 2011.

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