Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, August 13, 2014

CORRECTED-Health Care REIT to purchase HealthLease for $950 mln, (NYSE: HCN)

Health Care REIT Inc said it had agreed to acquire Canada's HealthLease Properties Real Estate Investment Trust in a deal valued at $950 million.Health Care REIT will pay C$14.20 ($13) in cash for each HealthLease share, which represents a premium of 31 percent to HealthLease's Tuesday closing.Health Care REIT said it expected the acquisition to add to its earnings immediately. ($1 = 1.09 Canadian dollar)

Health Care REIT, Inc. is a real estate investment trust (REIT). Shares of HCN remained unchanged at $63.51. In the past year, the shares have traded as low as $52.43 and as high as $66.76. On average, 2254670 shares of HCN exchange hands on a given day and today's volume is recorded at 0.