The war between Ventas and HCP appears to be over.
In mid-November, HCP agreed to pay Ventas $125 million to settle a lawsuit. This is in addition to the money HCP paid in compensatory damages, bringing Ventas’ total aggregate proceeds from the litigation to $228 million.
The battle between the companies stemmed from the price of Sunrise Senior Living REIT, which Ventas purchased for $1.8 billion in 2007. Both companies had bid on Sunrise, but Ventas argued successfully in court that HCP entered the bidding late and then insidiously drove up the price.
From the December 01, 2011 Issue of McKnight's Long-Term Care News