Care REIT’s board, advised by Jefferies, has recommended its shareholders accept a takeover approach from US investor CareTrust REIT.
The acquisition price values Care REIT at £448m or 108p per share, which is up by about one-third on its 10 March closing price and average 12-month share price figure.
CareTrust is New-York listed and has an equity market capitalisation of $4.9bn (£3.8bn). Its portfolio spans 34 states in the US, with more than 400 net-leased properties, comprising 43,000 bedrooms.
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