MCLEAN, Va., Jan. 9, 2013 /PRNewswire/ -- Sunrise Senior
Living, Inc. (NYSE: SRZ) announced today the closing of its
previously announced acquisition by Health Care REIT, Inc. (NYSE:
HCN). Sunrise also announced today the closing of the
previously announced sale of its management business to an entity
formed by affiliates of Kohlberg Kravis Roberts & Co. L.P.,
affiliates of Beecken Petty O'Keefe & Company and Health Care
REIT. As of the close of market on January 8, 2013, Sunrise common stock has ceased
to trade on the New York Stock Exchange.
As a result of these transactions, Sunrise stockholders will
receive a total of $14.50 in cash per
share (comprised of $12.40 in cash
per share as merger consideration and $2.10 in cash per share as a special
dividend).
Mark S. Ordan, chief executive
officer of Sunrise, said: "We are most pleased with this
outcome, which benefits all of our stakeholders, including a very
positive return for our shareholders. We are also very happy
that our residents and team members are in such strong hands as we
continue to fulfill Sunrise's mission."
Goldman, Sachs & Co. and Keybanc Capital Markets Inc. served
as financial advisors, and Wachtell, Lipton, Rosen & Katz as
legal advisor to Sunrise.
About Sunrise Senior Living
Sunrise Senior Living, a McLean,
Va.-based company, employs approximately 31,600 people. As
of September 30, 2012, Sunrise
operated 303 communities located in the
United States, Canada and
the United Kingdom, with a unit
capacity of approximately 29,400 units. Sunrise offers a full range
of personalized senior living services, including independent
living, assisted living, care for individuals with Alzheimer's and
other forms of memory loss, as well as nursing and rehabilitative
services. Sunrise's senior living services are delivered by staff
trained to encourage the independence, preserve the dignity, enable
freedom of choice and protect the privacy of residents. To learn
more about Sunrise, please visit
http://www.sunriseseniorliving.com.
Contact:
Meghan Lublin
Corporate Communications
(703) 854-0299
SOURCE Sunrise Senior Living, Inc.