Deals
Hudson Bay Urges Sabra Holders to Reject Care Capital Deal
- New York hedge fund has built 3.2 percent position in Sabra
- Sabra shares trading down 14 percent since deal disclosed
Nursing Home
Photographer: Bartek Sadowski/BloombergThis article is for subscribers only.
Hudson Bay Capital Management has taken a stake in nursing home owner Sabra Health Care REIT Inc. and is urging shareholders to vote against a proposed takeover of Care Capital Properties Inc.
“We are being asked to approve a transaction that has caused a massive decline in Sabra’s stock price and trading multiples,” Hudson Bay Chief Executive Officer Sander Gerber wrote to Sabra shareholders in a letter Thursday. The New York-based hedge fund said it owns about 3.2 percent of Sabra’s shares, making it the sixth largest holder in the company, according to data compiled by Bloomberg.