Business & Finance
Business and Finance
Business and Finance 
Mon, February 28, 2011
Nationwide Health Properties Inc. Shareholder Investigation by Briscoe Law Firm Concerning Acquisition by Ventas, Inc.
DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation law firm of [ Powers Taylor, LLP ] are investigating potential legal claims against the Board of Directors of Nationwide Health Properties Inc. (aNationwide Propertiesa or aNHPa) (NYSE: NHP) related to the proposed buyout of Nationwide Health by Ventas, Inc. The definitive acquisition agreement, which was announced on February 28, 2011, involves a total transaction valued at approximately $7.4 billion. Under the agreement, Nationwide Health shareholders will receive a fixed ratio of .7866 shares of Ventas for each share of Nationwide Health/NHP common stock they hold.
The investigation relates to the fairness of the proposed transaction to Nationwide Health shareholders, possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Nationwide Health for approving this transaction, and whether Nationwide Healtha™s Board of Directors acted in the shareholdersa™ best interests. This stock-for-stock transaction reportedly represents a value of approximately $44.99 per share to Nationwide Health shareholders, based on Ventasa™ closing price on Friday, February 25, 2011. While this price represents a slight premium over Nationwide Healtha™s closing price the day before the announcement, Nationwide Health recently reported an increase in its fourth quarter profits compared to the prior year, as well as a 20% increase in revenue. In addition, upon closing, Nationwide Health shareholders will only own 35% of the combined company. Based on these and other factors, the firms believe that the acquisition price may not be fair for Nationwide Health shareholders.
If you currently own shares of Nationwide Health/NHP and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.