UK's Care REIT hits two-year high after $579 million buyout deal

Care REIT

11/03/2025 13:43

** Care REIT's CRT.L shares surge as much as 35.3% to 110p, their highest since September 2022

** Stock top pct gainer across London

** Care, which manages care homes and other healthcare properties, agrees to an all-cash acquisition proposal from New York-listed CareTrust CTRE.N, valuing the London-based firm at about 448 mln pounds ($579.2 mln)

** The 108p-per-share bid represents a premium of about 33% to CRT's share price as of Monday close

** CRT board unanimously recommends shareholders to vote in favour of the deal

** CTRE up 1.3% in early NYSE trade

** CRT up 33.3% YTD, including session's gains

($1 = 0.7735 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)

 ((abyjose.koilparambil@thomsonreuters.com))