CHICAGO — Ventas Inc. (NYSE: VTR) and New Senior Investment Group Inc. (NYSE: SNR) have announced that New Senior stockholders have approved the previously announced merger agreement, under which Ventas will acquire New Senior as a subsidiary.
Both companies are based in Chicago. The proposed $2.3 billion merger was announced in June.
Approximately 99.8 percent of the votes cast were in favor of adoption of the merger.
“We are pleased with the outcome of today’s special meeting and thank our stockholders for their support of the financially and strategically compelling transaction with Ventas,” says Susan L. Givens, New Senior’s president and CEO.
Under the terms of the agreement, New Senior stockholders will receive 0.1561 shares of newly issued Ventas common stock for each share of New Senior common stock that they own immediately prior to the effective time of the merger.
The merger is scheduled to close on Sept. 21.