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Benedicte Gravrand, Opalesque Geneva:

Hudson Bay Capital Management LP, a New York-based investment manager which own approximately 3.2% of the common stock of Sabra Health Care REIT, Inc., released an open letter to Sabra shareholders urging them to reject Sabra's proposed acquisition of Care Capital Properties, Inc. A special meeting to vote on the proposed merger is scheduled on August 15.

In the letter, Hudson Bay explains how the proposed acquisition of CCP has resulted in the destruction of substantial Sabra shareholder value through a significantly lower stock price and trading valuation multiples.

"On May 7, 2017, Sabra announced an agreement to acquire Care Capital Properties, Inc. for all stock consideration valued at $29.96 per CCP share, an 11.8% premium to CCP's closing share price of $26.79 on May 5, 2017, the trading day prior to announcement. Since then, Sabra's share price has deteriorated significantly on both an absolute and relative basis," the letter says.

Hudson Bay Capital Management LP is a manager of alternative investment opportunities in the global markets employing a diverse set of catalyst-driven absolute return strategies. It was founded in 2005. According to recent reports, Hudson Bay increased its stake in ......................

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