New Senior Investment Group stockholders have approved the previously announced merger pursuant to which New Senior will merge with and into a subsidiary of Ventas.
“We are pleased with the outcome of today’s special meeting and thank our stockholders for their support of the financially and strategically compelling transaction with Ventas,” said Susan L. Givens, New Senior President and Chief Executive Officer.
“We are excited about our progress toward completing the transaction that enables Ventas to capture the powerful senior housing upside at a cyclical inflection point and complements our high quality diversified portfolio benefitting from demographic demand,” said Debra A. Cafaro, Ventas Chairman and CEO.
Under the terms of the merger agreement, New Senior stockholders will receive 0.1561 shares of newly issued Ventas common stock for each share of New Senior common stock that they own immediately prior to the effective time of the merger.
The merger is expected to close on or around September 21, 2021.
