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Omega Healthcare Investors acquiring MedEquities Realty Trust

Omega Healthcare Investors Inc. will acquire MedEquities Realty Trust Inc. in a transaction which values the latter at about $600 million.

The boards of the two healthcare real estate investment trusts approved the transaction unanimously.

Under the terms of the agreement, Omega will acquire all of the outstanding shares of MedEquities. For each share of MedEquities, its stockholders will receive 0.235 of an Omega common share plus $2.00 in cash.

MedEquities will also declare a special dividend of 21 cents per share payable to its holders on record on the trading day immediately before the closing date of the merger.

The transaction is expected to close in the first half, subject to customary closing conditions, including approval by stockholders of MedEquities.

More details to follow...