Welltower Made All-Cash $5B Bid For Healthcare Realty Trust: WSJ

Author: Vandana Singh | May 04, 2022 06:41am

• Welltower Inc (NYSE:WELL), a healthcare-focused real estate investment trust, has reportedly made a nearly $5 billion all-cash bid for Healthcare Realty Trust Incorporated (NYSE:HR), according to people familiar with the matter.
• Welltower, with a market value of roughly $41 billion, has a portfolio of senior housing, rehabilitation centers, and medical offices. Healthcare Realty deal would expand its presence in medical-office buildings.
• Wall Street Journal writes that Welltower remains interested after its bid was rejected and plans to say as much to Healthcare Realty this week, the people said.
• In February, Healthcare Realty and Healthcare Trust of America Inc (NYSE:HTA) agreed to combine in a roughly $10 billion deal of mostly stock. 
• A month later, Welltower offered $31.75 a share for Healthcare Realty, or roughly $4.8 billion, the people said. 
• Healthcare Trust shareholders are to get one Healthcare Realty share and $4.82 in cash per share under the current agreement. 
• When the deal was announced, the companies said it valued Healthcare Trust at around $35.08 a share.
• It requires signoff from holders of two-thirds of Healthcare Realty’s shares in a vote expected in July. 
• Price Action: HR shares closed at $30.40 on Tuesday.
• Photo by Capri23auto from Pixabay

Posted In: HR HTA WELL