Business & Finance
Thu, March 3, 2011Wed, March 2, 2011Tue, March 1, 2011Mon, February 28, 2011Sun, February 27, 2011Sat, February 26, 2011Fri, February 25, 2011Thu, February 24, 2011Wed, February 23, 2011Brower Piven Announces an Investigation of the Acquisition of Nationwide Health Properties, Inc. by Ventas, Inc.
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Published in Business and Finance on Monday, February 28th 2011 at 11:40 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
STEVENSON, Md.--([ BUSINESS WIRE ])--The law firm of Brower Piven, Marylanda™s largest and most active plaintiffs securities litigation firm, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Nationwide Health Properties, Inc. (aNationwidea or aNHPa) (NYSE: NHP) and other violations of state law by the Board of Directors of NHP relating to the proposed acquisition of the company by Ventas, Inc. (aVentasa) (NYSE: VTR). The firma™s investigation seeks to determine whether Nationwidea™s Board breached their fiduciary duties by, among other things, failing to maximize shareholder value.
On February 28, 2011, NHP, a Maryland corporation, announced that they have entered into a definitive merger agreement for Nationwide to be acquired by Ventas for approximately $5.8 billion. Under the terms of the merger agreement, NHP shareholders will receive 0.7866 Ventas shares for each share of Nationwide common stock held, representing a premium of 15.5 percent to NHPa™s Friday close of $38.96, the last trading day before the merger agreement. However, Nationwide has recently performed well, reporting a fourth-quarter profit increase of 14 percent to $35.3 million from $30.9 million during the same period last year and a revenue increase of 20 percent to $116.7 million from $97 million. In addition at least one analyst set a high price target of $45 per share of NHP common stock.
If you own NHP common stock and would like to learn more about the investigation being conducted by Brower Piven, you may e-mail or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at [ hoffman@browerpiven.com ], by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
