April 13, 2005
Health-care real estate investment trust (REIT) Ventas, Inc. announces merger agreement to acquire all of the outstanding common shares of Provident Senior Living Trust in a transaction valued at $1.2 billion.
On April 12, Willkie client Ventas, Inc., a health-care real estate investment trust (REIT), announced that it has entered into a definitive merger agreement to acquire all of the outstanding common shares of Provident Senior Living Trust in a transaction valued at $1.2 billion. Ventas will pay $7.81 in cash and 0.4951 Ventas share for each Provident common share. The transaction significantly expands Louisville, KY-based Ventas’s portfolio, which consists of health-care and senior-housing properties in 39 states. Princeton, N.J.-based Provident is an unlisted senior living REIT that owns 68 independent and assisted living properties comprising approximately 6,819 units in 19 states. The deal, which was reported in the April 13 Wall Street Journal, was handled by Willkie partners Thomas Cerabino, David Boston, Henry Cohn and Frank Daniele, and associates Peter Haller, David Kurzweil, Eric Lowenstein, Ajanaclair Lynch, Nicole Roth and Kelly Sutherland.
