Skilled Healthcare, Genesis HealthCare agree to merge

Mon Aug 18, 2014 4:51pm EDT

Aug 18 (Reuters) - Skilled Healthcare Group Inc and privately held Genesis HealthCare said on Monday they have agreed to combine in an all-stock transaction that will create one of the largest U.S. providers of long-term medical care services.

Under terms of the agreement, Skilled Healthcare shareholders will own 25.75 percent of the equity in the combined company, while Genesis shareholders will own the other 74.25 percent.

The combined company will operate under the Genesis HealthCare name and will trade on the New York Stock Exchange. The deal is expected to close in early 2015. (Reporting by Susan Kelly in Chicago; Editing by Steve Orlofsky)