Temperature Rises In Healthcare Battle

I noted last month that American Realty Capital Healthcare Trust made an unsolicited offer for Grubb & Ellis Healthcare Trust II (which has now changed its name to Griffin-American Healthcare REIT (GAHR)), which was rejected by GAHR's board.  It appears that American Realty Capital Healthcare Trust has not abandoned its pursuit of Griffin-American.  Here is an InvestmentNews article on the latest developments.  The article was based on a GAHR filing.  Here is a quote from the article, taken directly from GAHR's filing:

“We have received correspondence from a stockholder and another individual notifying us of their intention to nominate an alternative slate of directors for election at the 2012 annual meeting of stockholders,” the company said in the filing.

“The notices, which are substantially the same, name persons associated with one or more entities related to American Realty Capital, one of our competitors, as proposed nominees,” according to the filing. “The notices also identify such entities, and certain individuals associated with such entities, as ‘stockholder associated persons,' which in this case means that such persons are acting in concert with the individuals who submitted the notices.”

I wrote last month that I wouldn't have been surprised if this fight escalated.  It looks like I was right.