Flat Footed LLC Issues Statement Regarding Growing Shareholder Opposition To Diversified Healthcare Trust's Proposed Merger With Office Properties Income Trust
Portfolio Pulse from Happy Mohamed
Flat Footed LLC (FFL), a top shareholder of Diversified Healthcare Trust (DHC), has issued a statement expressing its opposition to DHC's proposed merger with Office Properties Income Trust (OPI). FFL, which owns approximately 9.8% of DHC's outstanding common shares, believes the merger is value-destructive and does not serve shareholders' best interests. FFL has offered to meet with DHC's leadership to discuss superior alternatives to the merger. Other significant shareholders, including D.E. Shaw and H/2 Capital Partners, have also announced their opposition to the deal.
July 19, 2023 | 12:10 pm
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NEGATIVE IMPACT
Flat Footed LLC, a major shareholder of DHC, opposes the proposed merger with OPI. This could potentially lead to a reconsideration of the merger or a change in its terms.
The opposition from a major shareholder like Flat Footed LLC, which owns approximately 9.8% of DHC's outstanding common shares, could potentially influence other shareholders and lead to a reconsideration of the merger or a change in its terms. This could negatively impact DHC's stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
The proposed merger of OPI with DHC is facing opposition from major DHC shareholders, which could lead to a reconsideration of the merger or a change in its terms.
The opposition to the proposed merger with DHC from major DHC shareholders could potentially lead to a reconsideration of the merger or a change in its terms. This could negatively impact OPI's stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90