Skadden Reps HCP In $6.1B Nursing Home Deal

Law360, New York (December 14, 2010, 7:40 PM EST) -- Health care real estate giant HCP Inc. has reached a $6.1 billion deal to buy up assisted-living facilities managed by private equity firm The Carlyle Group LP.

HCP will acquire the assets of Toledo, Ohio-based private nursing care provider HCR ManorCare for $3.5 billion in cash, $852 million in HCP stock issued to HCR ManorCare shareholders and $1.7 billion in existing debt reinvestments, under the terms of a deal signed Monday.

“This transaction reinvests our substantial debt investment in a secure long-term, growing income stream that...
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