Sunrise stockholders approve acquisition by Health Care Reit
Sunrise Senior Living stockholders have voted to approve the adoption of the previously announced merger agreement with Health Care Reit.
A total of 98.3 per cent of the votes cast by Sunrise stockholders at a special meeting were in favour of this proposal, representing 69.4 per cent of the shares of Sunrise common stock entitled to vote.
Sunrise stockholders also voted to approve, on an advisory, non-binding basis, the contractually based compensation that may be paid or become payable to Sunrise's named executive officers that is based on or otherwise relates to the proposed acquisition.
The merger, which remains subject to customary closing conditions, is expected to close on 9 January 2013.
Goldman Sachs and Keybanc Capital Markets served as financial advisers, and Wachtell, Lipton, Rosen & Katz as legal adviser to Sunrise.