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May 23, 2006

By Sule Aygoren Carranza

Two more seniors housing companies have recently merged operations. Locally based Brookdale Senior Living Inc., an operator of senior living facilities, has agreed to buy its rival, American Retirement Corp. of Nashville, TN, for about $1.2 billion in cash. The purchase price factors out to $33 per share, on a fully diluted basis, and represents a 32% premium over the firm’s closing share price on May 12.

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