(Reuters) -Sonida Senior Living is in advanced talks to acquire CNL Healthcare Properties in a deal valued at $1.8 billion, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Dallas-based Sonida is offering cash and stock and a transaction could be announced within days, the Journal said. Both Sonida and CNL […]
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Sonida in talks to buy CNL Healthcare in $1.8 billion deal, WSJ reports
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(Reuters) -Sonida Senior Living is in advanced talks to acquire CNL Healthcare Properties in a deal valued at $1.8 billion, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
Dallas-based Sonida is offering cash and stock and a transaction could be announced within days, the Journal said.
Both Sonida and CNL did not immediately respond to Reuters’ requests for comment.
The senior housing business is experiencing a sharp rebound after years of difficulty. Sonida itself nearly collapsed during the pandemic and was rescued by a $154.8 million investment from Conversant Capital, the Journal said.
(Reporting by Kamal Choudhury in Bengaluru; Editing by Sriraj Kalluvila)