Update 2:25pm: Adds Healthcare Realty holders deal approval.
Healthcare Trust of America ( NYSE: HTA ) and Healthcare Realty shareholders approved a combination at a vote on Friday.
Approximately 79% of the outstanding shares of Healthcare Realty common stock voted in favor of the merger transaction with HTA, which represented 92% of the votes cast, according to a statement. The deal is expected to close on or around Wednesday,
HTA holders approved the sale earlier Friday, according to people who listened to the meeting.
Jefferies said on Sunday it expected Healthcare Realty's ( NYSE: HR ) planned purchase of Healthcare Trust ( HTA ) was likely to win shareholder approvals. With prominent proxy advisers ISS and Glass Lewis on board, as well as a joint venture and asset sales on track to fund the cash portion of the transaction, the vote will likely pass and the deal will close on July 20, Jefferies analyst Jonathan Petersen wrote in a note on Sunday.
The vote as well as the ISS and Glass Lewis recommendations came as some investors have been disappointed by the deal since it was announced in February and some investors including activist Jonathan Litt reportedly plan to vote against it.
Last month Litt argued that Healthcare Realty ( HR ) would be better served by taking a ~$5 billion buyout from Welltower ( NYSE: WELL ).
Healthcare Realty ( HR ) and Healthcare Trust of America ( HTA ) in February agreed to a $18B deal that brings together two of the largest owners of medical office buildings.
HTA announced in November that it was exploring options, including a potential sale , after activist Elliott Management had been pressuring the company to sell itself.
For further details see:
Healthcare Trust, Healthcare Realty holders approve combination (update)