This transaction has been agreed within the framework of the previously announced merger agreement between Health Care REIT and Sunrise Senior Living, pursuant to which Health Care REIT will acquire all of the outstanding common stock of Sunrise Senior Living for $14.50 per share in an all-cash transaction, and which contemplated a sale or other disposition of Sunrise Senior Living’s management business to take effect immediately prior to the consummation of the closing of the acquisition of Sunrise Senior Living. Although not a condition to close the acquisition of Sunrise Senior Living, Health Care REIT expects to use the proceeds from the sale of the management business to partially fund its acquisition of Sunrise Senior Living.About Health Care REIT, Inc.
Health Care REIT Announces Agreement To Sell The Sunrise Senior Living Management Company
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