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Monday, August 18, 2014

Skilled Healthcare, Genesis HealthCare agree to combine, (NYSE: SKH)

Skilled Healthcare Group Inc and privately held Genesis HealthCare said on Monday they have agreed to combine in an all-stock transaction that will create one of the largest U.S. operators of long-term care facilities.Under terms of the agreement, Skilled Healthcare shareholders will own 25.75 percent of the equity in the combined company, while Genesis shareholders will own the other 74.25 percent.The combined company will operate under the Genesis HealthCare name and will trade on the New York Stock Exchange. Genesis Chief Executive Officer George Hager will lead the new company, which will be based at Genesis' offices in Kennett Square, Pennsylvania.Genesis operates skilled nursing centers and senior living communities and supplies rehabilitation services to other healthcare providers.

Skilled Healthcare Group, Inc. (Skilled) is a holding company. Shares of SKH traded higher by 2.33% or $0.14/share to $6.15. In the past year, the shares have traded as low as $4.08 and as high as $7.15. On average, 129378 shares of SKH exchange hands on a given day and today's volume is recorded at 170963.