Moody's Investors Service (Moody's) has withdrawn all of its ratings for Quality Care Properties, Inc. (QCP). The withdrawals follow the closing of QCP's acquisition by a healthcare REIT Welltower Inc. (Welltower, Baa1 stable) on July 26, 2018 and the full repayment of all of QCP's rated debt.
TOLEDO, Ohio, July 26, 2018 /PRNewswire/ -- Welltower Inc. (WELL), a leading global provider of healthcare infrastructure, and ProMedica, a mission-based, not-for-profit healthcare system focused on improving health and well-being across the care continuum, announced today the successful close of their joint venture acquisition of Quality Care Properties, Inc. (QCP) and its principal tenants, HCR ManorCare and Arden Courts, the nation's second largest provider of post-acute services and long-term care.
NEW YORK , July 26, 2018 /PRNewswire/ -- S&P SmallCap 600 constituent World Wrestling Entertainment Inc. (NYSE: WWE) will replace Quality Care Properties Inc. (NYSE: QCP) in the S&P MidCap 400, and Granite ...
BETHESDA, Md., July 25, 2018 /PRNewswire/ -- Quality Care Properties, Inc. (QCP) ("QCP" or the "Company") today announced that QCP stockholders approved the acquisition of QCP by Welltower Inc. (WELL) ("Welltower") at a Special Meeting of Stockholders held today in Bethesda, Maryland.
Moody's Investors Service placed ProMedica Health System's (ProMedica) A1 rating under review for downgrade, affecting approximately $420 million of debt. The review is prompted by the impending closure of a proposed transaction to acquire the operations of HCR ManorCare and Arden Courts out of bankruptcy, which will be transformative to ProMedica's core businesses and financial position. The acquisition and integration of these post-petition operations will require a material increase in ProMedica's financial leverage (more than double) and sizable equity contribution, which will significantly dilute balance sheet and liquidity metrics.
Stock Research Monitor: QCP, PSA, and STAG LONDON, UK / ACCESSWIRE / July 20, 2018/ If you want a free Stock Review on UNIT sign up now at www.wallstequities.com/registration . Pre-market today, WallStEquities.com ...
BALA CYNWYD, PA / ACCESSWIRE / July 5, 2018 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Quality Care Properties, Inc. ("Quality Care" or "the Company") (NYSE:QCP News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to affiliates of Welltower, Inc. ("Welltower"). Under the terms of the transaction, Quality Care shareholders will receive only $20.75 in cash for each share of Quality Care stock they own. The investigation concerns whether the Board of Quality Care breached their fiduciary duties to shareholders and whether Welltower is underpaying for the Company.
The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Quality Care Properties, Inc. (QCP) (“Quality Care Properties” or the “Company”) relating to the proposed buyout of the Company by Welltower, Inc. Under the terms of the agreement, Quality Care Properties shareholders are anticipated to receive $20.75 in cash for each share of Quality Care Properties common stock held.
NEW YORK , June 29, 2018 /PRNewswire/ -- Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the Empire State Building in New York ...
BETHESDA, Md., June 12, 2018 /PRNewswire/ -- Quality Care Properties, Inc. (QCP) ("QCP" or the "Company") today announced that the 45-day "go-shop" period set forth in its merger agreement (the "Merger Agreement") with Welltower Inc. (WELL) ("Welltower") expired on June 9, 2018 and also announced that it has received from a third party (the "Potential Bidder") an acquisition proposal (the "Acquisition Proposal") that QCP's Board of Directors (the "Board") has determined could reasonably be expected to lead to a "Superior Offer," as defined in the Merger Agreement. After consulting with its financial and legal advisors, QCP's Board determined that the Acquisition Proposal could reasonably be expected to lead to a Superior Offer. Therefore, the Potential Bidder is an "Excluded Party," as defined in the Merger Agreement, and QCP is permitted, subject to the provisions of the Merger Agreement, to continue to solicit proposals from, furnish non-public information to, and engage in further discussions and negotiations with, the Potential Bidder. Following the expiration of the go-shop period, QCP became subject to customary "no shop" provisions other than with respect to the Potential Bidder. The "no shop" provisions restrict the ability of the Company and its representatives to solicit alternative acquisition proposals from third parties or to provide confidential information to third parties, subject to customary "fiduciary out" provisions.