After several reports in the past few months of rumored buyers interested in acquiring GE Capital Healthcare, a new report indicates the front-running bidder may be Capital One Financial Corp. (NYSE: COF).
The national lender, which also services the health care and senior housing industries, is in “exclusive talks” to acquire GE Capital Healthcare in a deal that could top $10 billion, reports Reuters, which cited its sources as people familiar with the matter.
“Capital One has outbid other potential buyers in an auction for the unit, the people said on Thursday, cautioning that the negotiations are ongoing and that a deal has not yet been finalized,” Reuters stated in an article last week.
The speculation naming Capital One as the potential buyer arrives following reports from Bloomberg News in late June that indicated Chicago-based real estate investment trust Ventas, Inc. (NYSE: VTR) was also in talks to acquire GE’s healthcare finance arm.
Asked about those rumors on a recent earnings call, Ventas Chairman and CEO Debra Cafaro told analysts, “My mother told me never to believe everything you read in the paper.”
Written by Jason Oliva