- Omega Healthcare Investors (OHI +0.6%) and MedEquities Realty Trust (MRT -1.4%) announced the completion of Omega’s acquisition of all of the outstanding shares of MedEquities.
- The transaction represents an enterprise value of ~$600M for MedEquities.
- MedEquities stock automatically was converted into the right to receive 0.235 of a share of Omega common stock plus $2 in cash, which represents a value of $10.85/MedEquities share based on the $37.67 closing price for Omega common stock on May 16, 2019.
- MedEquities also declared a special cash dividend of $0.21/share which will be paid together with the cash consideration.