Business & Finance
Business and Finance
Business and Finance
Mon, February 28, 2011 Kendall Law Group Investigates Nationwide Health Properties Inc. Merger for Shareholders
DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating Nationwide Health Properties Inc. (NYSE: NHP) for shareholders in connection with the proposed acquisition by Ventas Inc. The national securities firma™s investigation seeks to determine whether NHP and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a NHP shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].
On February 28, 2011, Ventas announced the definitive merger agreement under which NHP would be acquired by Ventas, in a transaction valued at approximately $5.8 billion. Under the terms of the agreement, NHP stockholders will receive 0.7866 Ventas (NYSE: VTR) shares for each share of NHP common stock held. The consideration is valued at approximately $44.99 for each NHP share at Ventasa™ Fridaya™s closing price, representing a 15 percent premium to NHPa™s Friday closing price. On Monday, NHP reported that fourth-quarter profit rose 14 percent to $35.3 million from $30.9 million during the same period last year and that revenue rose 20 percent to $116.7 million from $97 million. The firma™s investigation seeks to determine whether NHP and its Board negotiated a deal that provides the best value available to shareholders.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
