Health Care REIT Inks $2B Deal For Sunrise Senior Living

Law360, New York (August 22, 2012, 1:22 PM EDT) -- Toledo, Ohio-based Health Care REIT Inc. will acquire Sunrise Senior Living Inc. and its interests in 125 senior housing facilities, it said Wednesday, announcing a $1.9 billion deal to become one of the country's biggest owners of retirement communities.

The real estate investment trust will pay $14.50 per share, a price not seen by Sunrise shareholders since 2008, when shares peaked before ballooning debt and falling profits spiked bankruptcy fears. The offer represents a 62 percent premium to the stock's closing price Tuesday.

Health Care REIT...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.