Diversified Healthcare Trust shares rise on deal with OPI

Office Properties Income Trust

11/04/2023 12:04

** Shares of U.S.-based real estate investment trust
Diversified Healthcare Trust  DHC.O  up 16.1% at $1.44 premarket
    ** DHC enters into merger agreement with Office Properties
Income Trust  OPI.O  whereby co to be acquired in an all-share
deal
    ** DHC shareholders to receive 0.147 shares of OPI for each
common share of co, implying a value of $1.70 per DHC common
share
    ** OPI shareholders to own about 58% of combined co and DHC
shareholders to own about 42%
    ** Combined co to be named Diversified Properties Trust and
to be led by OPI executive management team and managed by The
RMR Group  RMR.O 
    ** "The merger is expected to be immediately accretive to
DHC shareholders on a pro rata basis" - company
    ** As of last close, DHC up 91.7% YTD

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))