M&A
confidence high
sentiment positive
materiality 0.85
CareTrust REIT to acquire Care REIT plc for $817M total enterprise value
CareTrust REIT, Inc.
- Offer of 108 pence/share cash; 32.8% premium to Care REIT's March 10 closing price.
- Total consideration: ~$577M equity value plus assumption of ~$240M net debt.
- Acquisition to be effected by court-sanctioned scheme of arrangement; expected close Q2 2025.
- CareTrust will finance via existing $1.4B unsecured revolving credit facility.
- Unanimous board approval; irrevocable undertakings for ~3% of Care REIT shares.