05:40 AM EDT, 03/11/2025 (MT Newswires) -- CareTrust REIT ( CTRE ) said Tuesday it has agreed to acquire Care REIT for a deal valued at about $817 million on the terms of a recommended cash offer.

The company said it would pay 108 pence ($1.40) per Care REIT share, which represents a 32.8% premium to its Monday's closing price.

The acquisition values Care REIT at about $577 million, together with the assumption of $240 million in net debt, the company added.

The offer is subject to court and shareholder approval and is expected to close in Q2.