With rumors that Blackstone was out of the bidding for Brookdale Senior Living, it was then leaked that Ventas was in discussions. The saga never ends.
We are certainly in weird times. Last week, it appeared that Blackstone was out of the bidding for Brookdale Senior Living, or at least a part of it. Then, it was leaked late Thursday that Ventas was in discussions to buy all or part of Brookdale. What happened the next day? Brookdale’s stock dropped 6.5% on volume of more than 19 million shares, or almost five times the average. So, did investors think Ventas would not pay as much as Blackstone would, and were disappointed? Perhaps, but then after the long weekend, Brookdale jumped back up by 5.5% on heavier than normal volume. Do we have a bit of schizophrenia, or are more leaks sifting through the market? Unfortunately, this time I don’t know, but boy do I hope someone, somewhere makes a decision. And soon. And even though I heard two weeks ago that Ventas was in the mix as Blackstone was stepping back, I have not talked to anyone who really thinks it makes sense for them. We will see, or maybe not. Stay tuned.
