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Brookdale Senior Living Inc. Message Board

  • sandline2000 sandline2000 Jun 15, 2006 3:40 PM Flag

    Issuing shares...WTF?

    I thought Fortress was issuing stock to pay for the ACR acquisition?

    They chicken out?

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    • AP wire on 5/12: "Brookdale said it had received an equity commitment for up to $1.3 billion" from an affliate of Fortress. Today's news indicates that Fortress has decided NOT to finance the whole cash deal for Amer. Ret. itself. Worse, Capital Z, the other big investor in BKD is exiting via a follow-on offering. It's amazing how BKD appears to have learned squat from it's 1990's debacles as Alterra/Alternative/Evergreen. P.S. Fortress is a private equity investor, hence no public stock to issue. Anyway Amer. Ret is a cash deal.

      • 1 Reply to topmiller
      • Stock has to be sold either to the public or to Fortresss as ACR is not interested in taking stock.

        It now looks like Fortress (Hedge fund?) has lost their taste for BKD at these levels. Cleasrly they know more than I do about the company.

        I think this is even more strange because they agreed to buy at 39 and change (didnt they?)

        Why not complete the transaction as they have $5 in the trade??

        Unless they think it will fall by the time they get a chance to sell out...hmmm.

        Interested in any thoughts on why they would back away from a trade that has $5 in it?

 
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