Ventas buying ARC Healthcare Trust in $2.6B deal

|About: Ventas Inc. (VTR)|By:, SA News Editor

The boards of both companies have unanimously approved Ventas' (VTR) agreement to purchase ARC Healthcare (HCT) in a cash and stock deal valuing HCT at $11.33 each.

ARC Healthcare shares will be converted into a 0.1688 shares of Ventas common at the negotiated price of $67.13 each. HCT owners also have the option of accepting $11.33 in cash for their stock.

In a separate deal, Ventas is buying 29 independent living seniors housing communities in Canada from Holiday Retirement for C$980M.

The deals are expected to be immediately accretive to 2015 normalized FFO per share by at least a dime.

HCT +11.7% to $11.11 per share