Elliott Investment Management, one of the largest investors in Healthcare Trust of America, urged the HTA Board of Directors to conduct a strategic review, citing underperformance.
In the letter, Elliott highlighted HTA’s long-term underperformance and an untenable status quo, as the company’s cost of capital makes it uncompetitive, Elliott said in a news release. Elliott also commissioned a third-party survey that shows that shareholders support its thesis that HTA should explore a sale at a premium valuation rather than pursue a stand-alone growth path.
Elliott stated they were confident that highly credible buyers will present compelling offers to acquire the Company at a substantial premium to the current trading price and prices observed prior to the recent resignation of HTA’s CEO and Chairman, Scott Peters. Read more.
