- CareTrust REIT (CTRE, Financial) offers a recommended cash acquisition of Care REIT plc at 108 pence per share.
- The offer represents a 32.8% premium over Care REIT's March 2025 closing price.
- CareTrust's U.S. investment pipeline in skilled nursing and seniors housing has surged to $500 million.
CareTrust REIT, Inc. (CTRE) has announced a definitive cash offer to acquire Care REIT plc through its subsidiary, CR United Bidco, at a price of 108 pence per share. This strategic move underscores CareTrust's intention to enter the UK market, driven by strong interest from UK-based operators. The cash offer stands as a "best and final" bid, emphasizing the certainty it offers amidst increasing global market volatility.
The acquisition bid represents a 32.8% premium to Care REIT's share price as of March 10, 2025, and a 28.1% premium over the twelve-month volume-weighted average share price. According to CareTrust CEO Dave Sedgwick, the company is committed to expanding its market presence in the UK, regardless of the acquisition outcome.
In addition to its international expansion plans, CareTrust has also announced a substantial growth in its U.S. investment pipeline, which has increased to $500 million. This expansion reflects ongoing momentum in the skilled nursing and seniors housing sectors, ensuring the company's growth continues from 2024 into 2025.
This dual strategy of international acquisition and domestic growth positions CareTrust REIT as an aggressive player in the real estate investment trust space, particularly within healthcare facilities, as it seeks to capitalize on favorable industry conditions.
