Land & Buildings Issues Presentation Outlining Opposition to Healthcare Realty Trust’s Proposed Acquisition of Healthcare Trust of America | Business
STAMFORD, Conn.–(Company WIRE)–Jun 16, 2022–
Land & Properties Expense Administration, LLC (jointly with its affiliate marketers, “Land & Buildings”), a sizeable shareholder of Healthcare Realty Rely on, Inc. (NYSE: HR) (“Healthcare Realty”, “HR”, or the “Company”), right now issued an trader presentation outlining its opposition to the Company’s proposed merger with Health care Have confidence in of The united states, Inc. (NYSE: HTA) (“HTA”), and its intention to vote towards the deal at the July 15 Particular Assembly.
The presentation can be seen below.
Land & Buildings’ rationale for voting in opposition to the offer include things like:
- Lack of Strategic Rationale for HR Shareholders: HR’s valuation will possible be negatively impacted by HTA’s historic investing valuations and decreased high quality property.
- Flawed Process and Analysis of Welltower Proposal: Welltower’s offer for HR is 28% increased than the present share cost and is in line with the fairness views in HR’s proxy for its merger with HTA – however HR management refused to have interaction on a probable deal. Highlights other flaws in the course of action, which includes potential conflicts of desire with HR management and Board.
- History of Underperformance: HR’s latest administration has overseen underperformance over the previous 1-, 3-, and 5-calendar year time intervals – and there is no powerful motive why that would alter publish-merger.
- Trader Disapproval of Offer: HR shareholders absence self-confidence in the merits of the offer, produced crystal clear by the 11% share price fall adhering to the HTA merger announcement.
Jonathan Litt, Founder and Chief Financial commitment Officer of Land & Structures stated: “We see tiny strategic rationale for Health care Realty’s acquisition of Health care Have confidence in of America and locate it puzzling that HR rejected Welltower’s all-income give to pursue a benefit-harmful transaction. Quite a few other HR shareholders that we have spoken to program to vote in opposition to the deal, and we believe that it will be challenging to attain the 2/3 threshold necessary for approval at the July 15 Specific Assembly. We inspire the Board of Administrators to significantly reconsider whether or not the route it has preferred is the suitable one particular for all shareholders.”
Land & Structures urges HR shareholders to vote From the proposed merger with HTA at the impending Specific Meeting.
Please be aware: this is NOT a proxy solicitation. Land & Properties is not asking for your proxy card and are not able to take your proxy card. Be sure to DO NOT send us your proxy card. Executed proxy cards must be returned in accordance to HR’s recommendations.
Watch supply version on businesswire.com:https://www.businesswire.com/news/home/20220615005741/en/
Make contact with: Media ContactLongacre Sq. Associates
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Keyword: CONNECTICUT UNITED STATES NORTH The us
Market Key phrase: Development & Residence Experienced Companies REIT FINANCE
Resource: Land & Buildings Investment decision Administration, LLC
Copyright Organization Wire 2022.
PUB: 06/16/2022 09:00 AM/DISC: 06/16/2022 09:03 AM
Copyright Company Wire 2022.