Mergers & Acquisitions

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“Sabra’s ability to identify
and assess skilled
nursing operators who
understand how to
strategically navigate
through a changing
environment goes to
the heart of the upside
we see in the CCP

– Rick Matros, Chairman & CEO
M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Sabra Health Care REIT, Inc.
Actual Acquirer: Sabra Health Care REIT, Inc.
Target: Care Capital Properties, Inc.
Deal Type: Real Estate Company
Agreement Date5/7/2017
Announcement Date5/7/2017
Announced Deal Value ($M)2,526.02
Announced Deal Value Per Share ($)29.96
Announced Deal Value, As Reported ($M) 2,200.00
Completion Date8/17/2017
Consideration Breakout
Common Stock ($M)2,054.9
Deal Pricing Ratios
Price / LTM FFO (x)10.68.1
Price / LTM AFFO (x)10.69.0
Price / Earnings (x)15.98.4
Price / Rec EBITDA (x)13.112.5
Price / 52 Week High (%)95.0977.41
Deal Terms
Description of Consideration
Sabra Health Care REIT Inc. has exchanged 1.123 common stock shares to acquire each share of Care Capital Properties Inc.'s common stock.
Percent Acquired (%)
Accounting MethodAcquisition
Merger of Equals?No
 Target Assets
Total Number of Properties AcquiredNA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerYesUBS Securities LLC
SellerYesMerrill Lynch Pierce Fenner

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesO'Melveny & Myers LLP
SellerYesSidley Austin LLP

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