Deals
HCP Invites $34 Billion Merger as Valuation Nears Low: Real M&A
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The timing may be right for a $34 billion merger between two of the biggest managers of U.S. health-care facilities.
HCP Inc. is near its cheapest level since 2009, after it lost its title as the largest health-care real estate investment trust this year, according to data compiled by Bloomberg. The stock slump amid a slowdown in deals and the firing of Chief Executive Officer James F. Flaherty could spur Ventas Inc. or Health Care REIT Inc., known as HCN, to weigh a bid for the $17 billion company, said Adelante Capital Management LLC. A takeover by either would be the industry’s biggest deal ever.