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Healthpeak Properties and Physicians Realty to combine in $21 all-stock merger of equals

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Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.

Healthpeak Properties Inc.

and Physicians Realty Trust DOC, -0.63% said Monday they are combining in an all-stock merger of equals valued at about $21 billion. Under the terms of the deal, each of Milwaukee-based Physicians Realty’s shares will be converted into 0.674 of a newly issued share by Denver-based Healthpeak.

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