CareTrust REIT has agreed with Care REIT plc's board on a cash offer for its acquisition by CR United Bidco Ltd., a CareTrust subsidiary. The offer is £1.08 ($1.39) per Care REIT share.
The terms of the acquisition represent a Care REIT market capitalization of $577 million and, together with the assumption of net debt of approximately $240 million, a total purchase price of approximately $817 million.
Care REIT is a United Kingdom–based real estate investment trust listed on the Main Market of the London Stock Exchange, focused on investing in care homes throughout the United Kingdom. Care REIT’s diversified real estate portfolio totals 137 care homes, comprising approximately 7,500 operating beds leased to 15 operators across England, Scotland and Northern Ireland.
CareTrust believes that the highly fragmented U.K. care home market is in the early innings of a demand/supply imbalance driven by an aging population with growing care needs, muted new invento
