- Welltower Inc WELL, a healthcare-focused real estate investment trust, has reportedly made a nearly $5 billion all-cash bid for Healthcare Realty Trust Incorporated 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 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
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