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Feb. 21, 2014, 10:05 AM
- "The combination will put Brookdale's (BKD +4.3%) market share in the private pay residential/senior housing market at ~10% and will offer numerous strategic and financial benefits," says analyst Darren Lehrich, maintaining his Buy rating on BKD and boosting the price target $3 to $38. "We conclude that the deal puts an exclamation point on the value of BKD's infrastructure and leadership position in the senior living space, and it should accelerate the value of ESC's portfolio over the mid/long-term ... Synergies should have upside risks."
- ESC +35%
- Earlier coverage of the deal
Feb. 20, 2014, 5:09 PM
- Brookdale Senior Living (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.
- BKD -1.2% AH. Emeritus is currently trading at $27.
Sep. 27, 2012, 2:54 PMBrookdale Senior Living (BKD +6.4%) shares are riding high after Bloomberg says the company could be the next takeover target in the senior living space. BKD has the group's lowest valuation relative to cash flow, and operating margin is projected to reach a record high next quarter, Bloomberg calculates. Its stock price "doesn’t really reflect the improving fundamentals," an analyst says. | Sep. 27, 2012, 2:54 PM | 5 Comments
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Brookdale Senior Living Inc is an operator of senior living communities in the United States with a total capacity of approximately 143 communities in 46 states and the ability to serve approximately 111,000 residents.
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