May 16, 2017
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Irvine-based Sabra Health Care REIT Inc. and Care Capital Properties Inc. in Chicago announced completion of their all-stock merger despite shareholder backlash.
Sabra Health Care REIT Inc. shareholders voted to approve a proposal to issue common stock related to a pending $7.4 billion merger with Care Capital Properties Inc., a transaction scheduled to close Thursday.
But Company Plans To Go Forward With Deal
Irvine-based Sabra Health Care REIT Inc.’s $7.4 billion all-stock merger with Care Capital Properties Inc. in Chicago—which will create a company with a portfolio of 546 investments across 43 states and Canada—faces some headwinds after proxy advisory firm Institutional Shareholder Services Inc. recommended Sabra shareholders oppose the acquisition.
Sabra Health Care REIT Inc. in Irvine said its pending merger with Care Capital Properties Inc. in Chicago strengthens its portfolio, despite a return to a majority skilled nursing concentration.