BUZZ-Amica Mature Lifestyles Inc: To be taken private for C$578 mln

Wed Sep 2, 2015 12:07pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Luxury senior homes operator's shares rise as much as 113 pct to a record high of C$18.70

** BayBridge Seniors Housing Inc, owned by Ontario Teachers' Pension Plan Board, will take Amica private for C$578 million

** The C$18.75 per share cash offer is a premium of 113 percent to Amica's Tuesday close

** Vancouver-based Amica operates 26 luxury seniors residential properties in Canada, while BayBridge Seniors Housing owns and operates 35 senior living communities in Canada and six in the United States

** 5 of 6 brokerages rate the stock "buy" or higher, 1 "hold"; median PT C$8.88

** Up to Tuesday's close, stock had risen 25 pct this year