HCP will pay Ventas $125M
In mid-November, HCP agreed to pay Ventas $125 million to settle a lawsuit. This is in addition to the money HCP paid in compensatory damages, bringing Ventas' total aggregate proceeds from the litigation to $228 million.
The battle between the companies stemmed from the price of Sunrise Senior Living REIT, which Ventas purchased for $1.8 billion in 2007. Both companies had bid on Sunrise, but Ventas argued successfully in court that HCP entered the bidding late and then insidiously drove up the price.