Physicians Realty Trust rises on $2.64 bln merger with Healthpeak

Physicians Realty Trust

30/10/2023 14:25

** Shares of healthcare real estate co Physicians Realty
Trust  DOC.N  rise 2% to $11.30
    ** Co and real estate investment trust Healthpeak Properties
 PEAK.N  have agreed to combine in an all-stock deal to create a
$21 billion healthcare properties operator that would manage
clinics, hospitals and surgery centers  
    ** Deal values Physicians at about $2.64 billion, based on
238.45 million shares outstanding
     ** Under the deal, each share of Physicians will be
converted into 0.674 of a newly issued Healthpeak share
    ** The new company will operate under Healthpeak Properties
name and trade under the ticker symbol "DOC" on the New York
Stock Exchange
    ** The deal is expected to close in H1 2024
    ** PEAK shares fall ~2% to $16.15 
    ** Including session moves, DOC shares down ~21% and PEAK
shares down ~36% YTD  

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))