Flat Footed LLC Comments on Termination of Diversified Healthcare Trust’s Merger with Office Properties Income Trust
2023年9月5日 - 9:00PM
ビジネスワイヤ(英語)
Pleased DHC Has Abandoned Merger with OPI
Following Widespread Opposition From Shareholders and Independent
Proxy Advisory Firms
Appreciates Thoughtful Engagement with
Fellow Shareholders in Recent Months
Reiterates Interest in Working with DHC
Leadership to Explore Value-Maximizing Alternatives for All
Stakeholders
Flat Footed LLC (together with its affiliates, “FFL” or “we”), a
top shareholder of Diversified Healthcare Trust (Nasdaq: DHC)
(“DHC” or the “Company”) and the owner of approximately 9.8% of the
Company’s outstanding common shares, today commented on DHC’s
termination of its merger agreement with Office Properties Income
Trust (Nasdaq: OPI) (“OPI”).
Marc Andersen, Managing Member of FFL, commented:
“We are pleased that management and the Board of Trustees
concluded that the transaction with OPI is not in the best
interests of DHC and its shareholders. In recent months, a critical
mass of shareholders and independent proxy advisory firms voiced
their dissatisfaction with the consideration and strategic
rationale for the proposed deal.
FFL looks forward to putting this campaign behind us and working
with DHC leadership to expeditiously pursue superior paths. We
continue to believe that a standalone DHC can address its near-term
debt maturities and realize the full potential of the Company’s
senior housing portfolio to ultimately maximize shareholder
value.”
About Flat Footed
Flat Footed LLC is a special situation, value-oriented
investment management firm focused on leveraged, asset-heavy
companies with complex capital structures. The Flat Footed LLC team
has cumulatively managed $2.8 billion since founding their first
fund together in 1999. For more information, visit
www.flatfootedllc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230905708432/en/
Flat Footed LLC ir@flatfootedllc.com
Okapi Partners LLC Mark Harnett, 212-297-0720
mharnett@okapipartners.com
or
Longacre Square Partners Greg Marose / Charlotte Kiaie,
646-386-0091 FFL@longacresquare.com
Diversified Healthcare (NASDAQ:DHC)
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Diversified Healthcare (NASDAQ:DHC)
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