Two national operators of senior living communities are merging in a $2.8 billion deal, creating a company with 112,700 living units in 1,161 communities in 46 states.
Fifteen senior communities is the Philadelphia region will be part of the merged company being created by Brookdale Senior Living’s acquisition of Emeritus Corp.
Under the terms of the agreement, shareholders of Emeritus will receive 0.95 shares of Brookdale common stock for each share of Emeritus they hold.
The deal includes Brookdale’s assumption of Emeritus mortgage debt. The merger is expected to close during the third quarter of 2014. Read more about this story on PBJ.com.