Goldman Sachs Reports HealthCare REIT Plans $2.4 Billion Acquisition Of Genesis HealthCare's Real Estate

In a report published by Goldman Sachs, Health Care REIT HCN plans a $2.4 billion acquisition of Genesis HealthCare's Real Estate. Goldman Sachs reported that Health Care REIT announced the planned acquisition of substantially all of the real estate interests of privately owned Genesis HealthCare for $2.4 billion. “The company concurrently announced a proposed 28.75 million share equity offering (includes over-allotment; $1.5 billion transaction size based on today's closing price of $52.22) and 14.375 million share cumulative convertible perpetual preferred stock offering (includes overallotment; $718.8 million transaction size based on $50 par value per share). Lastly, HCN obtained a commitment for a $2.4 billion bridge loan which will be available to fund the transaction if necessary.” Health Care REIT closed yesterday at $52.22.