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Blackstone draws over $24bn commitments for latest real estate fund. (FS)
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Healthcare Realty, a healthcare facility real estate investment trust, completed the merger with Healthcare Trust of America, a healthcare facility REIT, in a $17.6bn deal.
“We believe all shareholders will benefit from the company’s expanded national footprint from HR’s Seattle portfolio to HTA’s Boston portfolio. The company will have unmatched market scale in concentrated clusters, meaningful corporate and operational synergies, and a larger development pipeline. We believe this transaction will be accretive through near term synergies with additional value from operational upside. It will also strengthen the combined balance sheet, enhance liquidity and improve access to capital. This combination provides a significant value creation opportunity for shareholders,” Todd Meredith, Healthcare Realty President and CEO.
Healthcare Realty was advised by Citigroup, Scotiabank, Hunton Andrews Kurth and Brunswick Group. Financial advisors were advised by Alston & Bird. Healthcare Trust of America was advised by JP Morgan, McDermott Will & Emery and Joele Frank. JP Morgan was advised by Cravath Swaine & Moore. Debt financing was provided by JP Morgan.
Blackstone, a private equity firm, completed the acquisition of PS Business Parks, a publicly-traded REIT, from Public Storage, an American international self storage company, for $7.6bn.
"I am extremely proud of everything we have accomplished at PS Business Parks. This transaction is an exceptional outcome for our stockholders and a testament to the incredible company and portfolio of high-quality assets our team has built, acquired and enhanced over the years," Stephen W. Wilson, PS Business Parks President and CEO.
PS Business Parks?was advised by Eastdil Secured, JP Morgan, Wachtell Lipton Rosen & Katz and Kekst CNC. Financial advisors were advised by Cravath Swaine & Moore. Blackstone was advised by Barclays, Citigroup, Morgan Stanley, Simpson Thacher & Bartlett and Joele Frank.
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Ericsson, a Swedish multinational networking and telecommunications company, completed the acquisition of Vonage Holdings, an American publicly held business cloud communications provider, for $6.2bn.
"The core of our strategy is to build leading mobile networks through technology leadership. This provides the foundation to build an enterprise business. The acquisition of Vonage is the next step in delivering on that strategic priority. Vonage gives us a platform to help our customers monetize the investments in the network, benefitting developers and businesses. Imagine putting the power and capabilities of 5G, the biggest global innovation platform, at the fingertips of developers. Then back it with Vonage's advanced capabilities, in a world of 8bn connected devices. Today we are making that possible," B?rje Ekholm, Ericsson President and CEO.
Vonage was advised by Qatalyst Partners, Weil Gotshal and Manges and Joele Frank. Financial advisors were advised by Cooley. Ericcson was advised by Freshfields Bruckhaus Deringer.
Amazon, an Internet-based retailer, agreed to acquire One Medical, a national human-centered and technology-powered primary care organization, for $3.9bn.
“We think health care is high on the list of experiences that need reinvention. Booking an appointment, waiting weeks or even months to be seen, taking time off work, driving to a clinic, finding a parking spot, waiting in the waiting room then the exam room for what is too often a rushed few minutes with a doctor, then making another trip to a pharmacy – we see lots of opportunity to both improve the quality of the experience and give people back valuable time in their days. Together with One Medical’s human-centered and technology-powered approach to health care, we believe we can and will help more people get better care, when and how they need it," Neil Lindsay, Amazon SVP of Health Services.
One Medical is advised by Morgan Stanley.
?Blackstone draws over $24bn commitments for latest real estate fund. (FS)
Buyout giant Blackstone has secured commitments worth $24.1bn for its latest real estate fund, according to a regulatory filing on Wednesday.
The size of the new fund, called Blackstone Real Estate Partners X, could go up to $30.3bn when it is finalized,?Reuters?reported.
The New York-based private-equity behemoth has been ramping up its bets on companies in the real estate space. In April, Blackstone agreed to buy real estate investment PS Business Parks?for $7.6bn including debt.
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