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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 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 30, 2015
17:14 EDTVTRVentas approves spin-off of most SNF portfolio into Care Capital Properties
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July 27, 2015
10:00 EDTVTROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Buy from Neutral at Citi... AGCO (AGCO) upgraded to Neutral from Sell at Goldman... Anthem (ANTM) upgraded to Buy from Neutral at Sterne Agee CRT... BNP Paribas (BNPQY) upgraded to Buy from Neutral at Goldman... Biogen (BIIB) upgraded on valuation at Bernstein... Box (BOX) upgraded to Overweight from Sector Weight at Pacific Crest... Capital One (COF) upgraded to Buy from Outperform at CLSA... Centene (CNC) upgraded to Buy from Neutral at UBS... Chesapeake (CHK) upgraded on potential sale of assets or company at SunTrust... Cigna (CI) upgraded to Buy from Neutral at Sterne Agee CRT... Deere (DE) upgraded to Neutral from Sell at Goldman... First BanCorp (FBP) upgraded to Buy from Neutral at Guggenheim... Flotek (FTK) upgraded on stronger demand at Oppenheimer... Lear (LEA) upgraded to Buy from Hold at Deutsche Bank... Methanex (MEOH) upgraded to Outperform from Sector Perform at Scotia Howard Weil... News Corp. (NWSA) upgraded to Outperform from Neutral at Macquarie... NextEra Energy Partners (NEP) upgraded to Outperform at Wells Fargo... OFG Bancorp (OFG) upgraded to Buy from Neutral at Guggenheim... PennyMac Mortgage (PMT) upgraded to Buy from Neutral at Compass Point... Pool Corp. (POOL) upgraded to Outperform from Market Perform at William Blair... Popular (BPOP) upgraded to Buy from Neutral at Guggenheim... Qualcomm (QCOM) upgraded to Overweight from Equal Weight at Morgan Stanley... Quality Systems (QSII) upgraded on valuation at RBC Capital... VF Corp. (VFC) upgraded to Buy from Neutral at Goldman... Ventas (VTR) upgraded on valuation, positive catalysts at BMO Capital... Weatherford (WFT) upgraded to Equal Weight from Underweight at Barclays... SS&C (SSNC) upgraded to Buy from Hold at Sandler O'Neill... Chemung Financial (CHMG) upgraded to Buy from Hold at Sandler O'Neill... Cameron (CAM) upgraded to Buy from Accumulate at Global Hunter.
08:33 EDTVTRVentas upgraded on valuation, positive catalysts at BMO Capital
As noted earlier, BMO Capital upgraded Ventas to Outperform from Market Perform. The firm upgraded the stock on valuation, its belief that the spinoff of CCP will be a catalyst for the stock, the increase in Ventas' disposition activity, and Ventas' formation of a joint venture based on Ardent's operations. Target $74.
06:16 EDTVTRVentas upgraded to Outperform from Market Perform at BMO Capital
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July 24, 2015
07:51 EDTVTRVentas expects CCP Spin-off to close in Q3
In connection with Ventasís previously announced plan to spin off most of its skilled nursing facility portfolio into an independent, publicly traded REIT named Care Capital Properties, CCP filed Amendment No. 2 to its Form 10 registration statement relating to the Spin-Off with the Securities and Exchange Commission on July 15, 2015. The transaction is expected to be completed in August 2015, subject to applicable approvals.
07:47 EDTVTRVentas raises FY15 normalized FFO view to $4.70-$4.76 from $4.67-$4.75
Consensus $4.66. The updated guidance range represents 5%-6% growth in normalized FFO per share over 2014. Ventas currently expects its 2015 NAREIT FFO per diluted share to increase to a range between $4.51-$4.61.
07:46 EDTVTRVentas reports Q2 normalized FFO $1.18, consensus $1.16
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