New Senior Investment Group [NYSE: SNR] Confirms Merger With Ventas

New Senior Investment Group Inc. [NYSE: SNR] has disclosed that it has stakeholders have authorized merger with Ventas. As per the merger deal, New Senior will merge with and into a unit of Ventas, with New Senior continuing the merger as a subsidiary of Ventas. Nearly, 99.8% of the votes cast were voted in favor of the adoption of New Senior’s merger agreement with Ventas.

New Senior Investment Group has believed that this merger with Ventas was going to be a financially and strategically convincing deal. This deal allows Ventas to capture the powerful senior housing upside at a cyclical inflection point and adds to its high-quality spread portfolio profiting from demographic demand.

As per the Merger Agreement, New Senior stockholders will obtain 0.1561 shares of newly issued Ventas common stock for each share of New Senior common stock that they hold instantly before the valid time of the Merger. On the other hand, Ventas stockholders of record as of October 1, 2021, will get a dividend of $0.45 per share of Ventas common stock on October 14, 2021.

Additionally, the Merger is likely to be executed on or around September 21, 2021, after the fulfillment of certain conditions. It has been disclosed that if the Merger was executed on or before October 1, 2021, in that case, New Senior stockholders would not get the dividend declared by New Senior on August 4, 2021.