trending Market Intelligence /marketintelligence/en/news-insights/trending/gGAX0KlEHXKPLpZJecLYOw2 content esgSubNav
In This List

Proxy adviser backs Sabra-Care Capital merger deal

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Climate Credit Analytics: Diving into the model

Video

How to use ESG Heat Maps in Credit Risk Analysis


Proxy adviser backs Sabra-Care Capital merger deal

Glass Lewis & Co. LLC recommended that Sabra Health Care REIT Inc. shareholders vote in favor of the company's proposed common share issuance as part of its planned merger with Care Capital Properties Inc.

The recommendation was contrary to that made by Sabra shareholders Hudson Bay Capital Management LP and Eminence Capital LP, which both objected to the deal. Glass Lewis said in an Aug. 3 report that both opposing shareholders "have misrepresented Sabra's strategic objectives and certain of its communications surrounding the CCP acquisition." The proxy adviser also questioned whether Hudson Bay's and Eminence's interests are in line with the long-term interests of Sabra and its other stockholders.

In its report, Glass Lewis said it believes the CCP transaction is appropriately valued and that Sabra's management and board are well-equipped to assess the deal, manage CCP's portfolio and serve the interests of Sabra stockholders.

Sabra lauded the proxy adviser's recommendation and said its board is calling on shareholders to approve the proposed common share issuance at the company's special meeting scheduled for Aug. 15.