Care Reit, formerly known as Impact Healthcare, has agreed to a £448 million takeover deal with American care home provider CareTrust. The offer represents a 32.8% premium on Care Reit’s share price, leading to a significant surge in its stock value upon the announcement. CareTrust, listed on the New York Stock Exchange, specializes in properties for elderly care and other healthcare facilities. Analysts note that UK-listed real estate investment trusts (REITs) like Care Reit have been undervalued due to investor sentiment and broader economic conditions, making them attractive targets for acquisition. This deal is part of a broader trend of consolidation in the sector, with other notable transactions involving US firms targeting UK healthcare property assets. Care Reit’s chairman, Simon Laffin, highlighted prolonged negative sentiment and macroeconomic challenges as key factors influencing the decision to accept the takeover offer.
Care Reit Agrees to US Takeover Amidst Sector Consolidation
