(Adds details, background)
June 2 Ventas Inc, one of the largest
U.S. healthcare real estate investment trusts, said it would buy
American Realty Capital Healthcare Trust Inc in a cash
and stock deal valued at about $2.6 billion.
Ventas also said it would buy 29 independent living seniors
housing communities in Canada from Holiday Retirement Corp for
about C$980 million (about $902 million) in cash.
Ventas said the deal with ARC Healthcare would add 143
properties, comprising medical office buildings and senior
housing communities, to its portfolio.
Ventas had about 1,029 medical office buildings and senior
housing communities as of Dec. 31, 2013.
Ventas said ARC Healthcare shareholders will have the option
to receive either 0.1688 Ventas shares or $11.33 in cash for
each ARC Healthcare share. The cash offer represents a premium
of about 14 percent to ARC Healthcare's Friday closing.
Ventas said the deals would add at least 10 cents per share
to its 2015 funds from operations (FFO), a measure of cash flow
for real estate management companies.
($1 = 1.0859 Canadian Dollars)
(Reporting by Ankit Ajmera in Bangalore; Editing by Saumyadeb