May 8, 2017

Health care real estate firms nail down $7.4 billion merger

Eric Risberg / AP

Sabra Health Care REIT and Care Capital Properties have agreed to an all-stock merger, creating a health care real estate investment trust with a $7.4 billion market cap. The new company, which will take the Sabra name and executive team, will predominantly own assisted-living and skilled-nursing facilities for seniors.

Between the lines: Real estate investment trusts make their money by owning properties and collecting rent from the tenants. Sabra sees the aging baby boomer population as an opportunity to make more money and wants to become a major landlord of properties that treat elderly patients.

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China-Iran deal envisions massive investments from Beijing

Illustration: Aïda Amer/Axios

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House Judiciary Committee releases transcript of Geoffrey Berman testimony

Geoffrey Berman. Photo: Alex Wong/Getty Images

The House Judiciary Committee on Monday released the transcript of its closed-door interview with Geoffrey Berman, the former top federal prosecutor in Manhattan who was forced out by Attorney General Bill Barr last month.

Why it matters: House Democrats have seized on Berman's testimony, in which he claimed the attorney general sought to "entice" him into resigning so that he could be replaced by SEC chairman Jay Clayton, to bolster allegations that the Justice Department has been politicized under Barr.

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