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Ventas says Canada ISS endorses bid for Sunrise

Wed Mar 14, 2007 7:41pm EDT

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LOS ANGELES, March 14 (Reuters) - Healthcare real estate investment trust Ventas Inc. (VTR.N) and Sunrise Senior Living (SRZ.N) said on Wednesday that proxy advisory firm Institutional Shareholder Services of Canada had recommended that Sunrise holders vote for the proposed acquisition by Ventas.

Mergers & Acquisitions

Ventas agreed in January to acquire Sunrise for C$15-a-unit.

An Ontario court ruled last week that Sunrise had to comply with the deal, despite a richer C$18-a-unit bid from Health Care Property Investors Inc. (HCP.N) in mid-February.

Mergers & Acquisitions


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