Healthcare Trust of America ( NYSE: HTA ) shareholders approved a sale to Healthcare Realty ( NYSE: HR ) at a vote on Friday.
HTA holders approved the sale, according to people who listened to the meeting.
Investors are still awaiting results from the Healthcare Realty ( HR ) vote. Jefferies said on Sunday it expected Healthcare Realty's ( 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 come 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.
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Healthcare Trust shareholders approve deal with Healthcare Realty