Healthcare M&A » By The Online Investor Staff, updated Thu., Apr. 18, 11:06 AM
Recent mergers and acquisitions in the Healthcare M&A category.
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Slide #91. Brookdale Senior Living Inc. — Emeritus Corporation
Acquirer:
Brookdale Senior Living Inc. (BKD)
Acquiree:
Emeritus Corporation (ESC)
Details:
Brookdale Senior Living Inc. and Emeritus Corporation announced the signing of a definitive merger agreement to create the first national senior living solutions company. The combined companies will serve the growing market for senior living solutions as the single branded provider operating the only nationwide network of senior living communities with fully integrated ancillary services across the continuum of care. Following the merger, a Brookdale community will be within 10 miles of 6.5 million seniors 80 years or older. Under the agreement, Emeritus shareholders will receive 0.95 shares of Brookdale common stock in exchange for each share of their Emeritus common stock. Based on the closing price of each company's common stock on February 19, 2014, this exchange ratio implies a 32% premium on Emeritus' shares. The transaction value totals $2.8 billion, with the inclusion of $1.4 billion of Emeritus mortgage debt. The transaction is expected to have a neutral impact on Brookdale's Cash From Facility Operations in the first year of combined operations, which will grow to exceed $0.40 per share of accretion for the third year. The transaction is expected to close in the third quarter of 2014.
Brookdale Senior Living is a holding company. Through its subsidiaries, Co. operates and manages the following segments: Independent Living, which includes communities consist of both independent and assisted living units in a single community and provides them with a range of senior independent and assisted living services to accommodate their changing needs; Assisted Living and Memory Care, which includes communities that provide housing and assistance with activities of daily living for its residents; and Continuing Care Retirement Communities, which includes communities that provides living arrangements and services to accommodate a range of physical ability and healthcare needs.
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Brookdale Senior Living is a holding company. Through its subsidiaries, Co. operates and manages the following segments: Independent Living, which includes communities consist of both independent and assisted living units in a single community and provides them with a range of senior independent and assisted living services to accommodate their changing needs; Assisted Living and Memory Care, which includes communities that provide housing and assistance with activities of daily living for its residents; and Continuing Care Retirement Communities, which includes communities that provides living arrangements and services to accommodate a range of physical ability and healthcare needs.
BKD SEC Filing Email Alerts Service
Open the ESC Page at The Online Investor »
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