Brief: Diversified Healthcare, Office Properties To Merge

Office Properties Income Trust

11/04/2023 11:25

April 11 (Reuters) - Diversified Healthcare Trust
 DHC.O :
    * DIVERSIFIED HEALTHCARE TRUST AND OFFICE PROPERTIES INCOME
TRUST
ANNOUNCE AGREEMENT TO MERGE IN ALL-SHARE TRANSACTION
    * DIVERSIFIED HEALTHCARE TRUST - DHC SHAREHOLDERS TO RECEIVE
0.147
SHARES OF OPI COMMON STOCK FOR EACH SHARE OF DHC STOCK
    * DIVERSIFIED HEALTHCARE TRUST - OPI TO BE SURVIVING ENTITY
IN
MERGER & INTENDS TO CHANGE NAME TO "DIVERSIFIED PROPERTIES
TRUST" ON CLOSING OF DEAL
    * DIVERSIFIED HEALTHCARE TRUST - MERGER IS EXPECTED TO BE
IMMEDIATELY ACCRETIVE TO DHC SHAREHOLDERS ON A PRO RATA BASIS
    * DIVERSIFIED HEALTHCARE TRUST - OPI EXPECTED TO TRADE ON
NASDAQ
STOCK MARKET LLC UPON CLOSING OF TRANSACTION
    * DIVERSIFIED HEALTHCARE TRUST - DHC SHAREHOLDERS TO OWN
ABOUT 42%
OF COMBINED CO, OPI SHAREHOLDERS TO OWN ABOUT 58% OF COMBINED CO
    * DIVERSIFIED HEALTHCARE TRUST - MERGER IS EXPECTED TO
RESULT IN
ANNUAL GENERAL AND ADMINISTRATIVE SAVINGS OF ABOUT $2 MILLION TO
$3 MILLION
    * DIVERSIFIED HEALTHCARE TRUST - PROPOSED DEAL FOR IMPLIED
VALUE
OF $1.70 PER DHC COMMON SHARE

Source text for Eikon:  ID:nBw1ddHL1a 
Further company coverage:  DHC.O 

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