- Brookdale Senior Living (NYSE:BKD) is merging with fellow retirement home owner Emeritus (ESC) in a deal the companies state will create "the only nationwide network of senior living communities with fully integrated ancillary services across the continuum of care."
- Emeritus shareholders will receive 0.95 shares of Brookdale common stock for each Emeritus share they own. Based on today's close, the deal values Emeritus at $28.59/share, a 33% premium.
- Brookdale CEO Andy Smith will be CEO of the combined companies. Assuming regulators approve, the deal is expected to close in Q3.
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BKD -1.2% AH. Emeritus is currently trading at $27.