SRZ (+59%) Health Care REIT to buy Sunrise Senior Living in deal valued at about $1 billion
Associated Press
TOLEDO, Ohio (AP) -- Health Care REIT Inc., a real estate investment trust, plans to buy Sunrise Senior Living Inc. in an all-cash deal valued at about $1 billion.
The Toledo, Ohio-based company said Wednesday it will pay $14.50 for each share of Sunrise, which is based in McLean, Va. The price represents a premium of more than 62 percent to Sunrise's closing stock price of $8.93 on Aug. 21.
Sunrise shares climbed $5.28, or more than 59 percent, in morning trading to $14.22. The stock had previously traded in a range of $3.68 to $9 in the past 52 weeks...
