Ventas, Inc. completed the acquisition of New Senior Investment Group Inc..
Centerview Partners LLC is serving as financial advisor and Robin Panovka, Mark A. Stagliano, William A. Nagy, Adam J. Shapiro, Gregory E. Pessin, Emily D. Johnson, Tijana J. Dvornic, Jodi J. Schwartz and Victor Goldfeld of Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Ventas. Morgan Stanley & Co. LLC is serving as financial advisor as well as fairness opinion provider and Damien R. Zoubek, Ting S. Chen, Eric W. Hilfersm, Arian Mossanenzadeh, Christopher K. Fargo, Kiran Sheffrin, David J. Kappos, Brian M. Budnick, Laurel R. Berkowitz and Annmarie M. Terraciano of Cravath, Swaine & Moore LLP is acting as legal advisors to New Senior. BofA Securities acted as financial advisor in the transaction. Innisfree M&A Incorporated acted as information agent to New Senior Investment. New Senior estimates that it will pay Innisfree a fee of approximately $30,000. New Senior has agreed to pay Morgan Stanley a fee of approximately $17 million in the aggregate, $3 million of which was payable upon the rendering of its opinion and the remainder of which is contingent upon the consummation of the Merger, as well as an additional discretionary fee of up to approximately $6 million, payable, if at all, at the New Senior Board's sole discretion on or before the closing. Hogan Lovells US LLP acted as legal advisor to Ventas.
Ventas, Inc. (NYSE:VTR) completed the acquisition of New Senior Investment Group Inc. (NYSE:SNR) on September 21, 2021. Effective September 21, 2021, shares of New Senior common stock will no longer be traded on the New York Stock Exchange. Kyoko Takahashi Lin of Davis Polk & Wardwell LLP acted as legal advisor to Ventas, Inc.