March 04, 2022 | Health Care | North America | Ended

Healthcare Trust of America / Healthcare Realty Trust: Deal Insights


On 28-Feb-22, Healthcare Trust of America (“HTA”), which owns and operates medical office buildings (“MOB”), entered into a definitive agreement to combine with smaller rival Health Realty Trust (“HR”) via an all-share reverse merger. The merger exchange ratio is 1:1 and HTA shareholders will be entitled to receive a special cash dividend of $4.82 per share on the last business day prior to closing. Based on the previous trading day’s (24-Feb-22) closing and inclusive of the special dividend, HTA shareholders were offered a total implied value of $35.08 per share, representing an 18.2% premium to the stock’s undisturbed price on 24-Feb-22, the day before Wall Street Journal speculation; the current deal value has declined to $32.71 per HTA share, inclusive of one ordinary dividend. After closing, HTA shareholders will own 61% of the pro forma company while HR shareholders will own the remaining 39%. The board of the new company will consist of nine existing directors of HR, three existing directors of HTA, and one will be mutually agreed upon by both boards ...



How to Access this Report

Please contact us to request access to this report.


CONTACT US


Share this article



← RETURN TO RESEARCH

Back to top of page