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Brookdale Senior Living Reaches Deal with Shareholder Land & Buildings, Adds New Board Director
MIDNIGHT TRADER 11:25 AM ET 7/26/2017
Symbol Last Price Change
BKD 14.2down -0.34 (-2.34%)
QUOTES AS OF 12:09:49 PM ET 07/26/2017
11:25 AM EDT, 07/26/2017 (MT Newswires) -- Brookdale Senior Living(BKD) said Wednesday it has appointed Marcus Bromley as an independent member of its board as a result of reaching an agreement with shareholder Land & Buildings Management and certain of its affiliates.

The operator of senior living communities said Bromley was also appointed to both the audit and investment committees of the board.

Bromley currently serves as a member of the advisory board of private equity investment firm Nancy Creek Capital Management and as an independent director of non-listed real estate investment trust Cole Credit Property Trust V.

Under the terms of the agreement, the company said Land & Buildings agreed to abide by certain customary standstill and voting provisions, including voting in support of a slate of director nominees that the board will put forth at the 2017 annual meeting.

"We expect that Marc's insights and contributions will be valuable as we focus on the execution of our strategic objectives, including our ongoing process to explore options and alternatives to create and enhance stockholder value," Executive Chairman Daniel Decker said.

Brookdale Senior Living (BKD) also said that a previously announced process of exploring options and alternatives to enhance shareholder value is ongoing.

Price: 14.13, Change: -0.41, Percent Change: -2.82

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