Assisted Living Concepts Inc said it agreed to be bought by investment firm TPG for about $278 million, months after the senior living residence operator said it was looking for buyers for several of its underperforming residences.Retirement villages have been attractive acquisition targets over the last few years as an aging U.S. population has raised demand for residences that also provide nursing facilities.Health Care REIT Inc bought Sunrise Senior Living Inc for about $845 million in August 2012, while HCP Inc said in October it was going to purchase 133 senior housing communities from a joint venture between Emeritus Corp and Blackstone Real Estate Partners VI for $1.73 billion.Assisted Living, which operates 210 senior living residences in 20 states, has been posting losses since the second quarter of 2012 as occupancy rates declined in its residences.
Assisted Living Concepts, Inc. (ALC), together with its subsidiaries, operates senior living residences in the United States. Shares of ALC traded higher by 22.06% or $2.14/share to $11.84. In the past year, the shares have traded as low as $6.93 and as high as $20.33. On average, 65094 shares of ALC exchange hands on a given day and today's volume is recorded at 395061.
Emeritus Corporation (Emeritus) is an operator of senior living communities (communities) in the United States. Shares of ESC remained unchanged at $27.35. In the past year, the shares have traded as low as $14.24 and as high as $28.50. On average, 192350 shares of ESC exchange hands on a given day and today's volume is recorded at 0.
HCP, Inc. (HCP) is a real estate investment trust (REIT). Shares of HCP traded higher by 0.27% or $0.13/share to $47.77. In the past year, the shares have traded as low as $37.81 and as high as $48.84. On average, 2210890 shares of HCP exchange hands on a given day and today's volume is recorded at 17152.
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