Brookdale Senior in deal talks with Blackstone, others: WSJ

Brookdale Senior Living Inc (BKD.N) is in talks with private equity firm Blackstone Group LP (BX.N) and others about a potential deal to sell a part or all of the company, the Wall Street Journal reported, citing people familiar with the matter.

Shares of Brookdale, which had a market value of $2.39 billion as of Monday's close, jumped 14.6 percent to $14.73.

The talks are at an early stage and may not lead to a deal, the Journal reported on Tuesday. 

Brookdale and Blackstone declined to comment.

Brookdale operates independent living, assisted living and dementia-care communities, with 1,077 communities in 47 U.S. states.

The company has been under pressure after activist hedge fund Land and Buildings Investment Management LLC issued a letter to Brookdale's shareholders last month, seeking a sale of the company's real estate.

Land and Buildings, which had a 0.3 percent stake in Brookdale as of Sept. 30, had also asked Brookdale to transition to an asset-light senior housing management company.

 

 

Blog credited to: Reporting by Divya Grover in Bengaluru; Editing by Maju Samuel and 

Categories: 
Assisted Living Facilities
City: 
Milford
States: 
Connecticut
County: 
New Haven