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Rigrodsky & Long, P.A. Investigates Buyout of Nationwide Health Properties, Inc. - NHP

^{Published on 2011-02-28 08:05:24 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of Nationwide Health Properties, Inc. (aNationwide a or the aCompanya) (NYSE: [ NHP ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companya™s entry into an agreement to be acquired by Ventas, Inc. (aVentasa) (NYSE: VTR) in a transaction with a total value of approximately $7.4 billion. Click here to learn how to join the action: [ http://www.rigrodskylong.com/news/NationwideHealthProperties-NHP ].

Under the proposed agreement, Nationwide shareholders will receive a fixed exchange ratio of 0.7866 Ventas shares for each share of Nationwide common stock they own. Based on the closing stock price for Ventas on Friday, February 25, 2011, this consideration will be equivalent to $44.99 of Ventas stock for each Nationwide share. Upon closing of the transaction, Ventas shareholders are expected to own approximately 65% and Nationwide shareholders are expected to own approximately 35% of the combined company.

The investigation concerns whether Nationwidea™s board of directors failed to adequately shop the Company and obtain the best price possible for Nationwidea™s shareholders before entering into the agreement with Ventas. Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $45.00 per share for Nationwide stock.

If you own the common stock of Nationwide and purchased your shares before February 28, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact [ Seth D. Rigrodsky, Esquire ] or [ Noah R. Wortman, Case Development Director ], of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to [ info@rigrodskylong.com ].

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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