ING eyes Calan for possible takeover

NZX-Listed real estate investor ING Property Trust is considering taking over listed medical landlord Calan Healthcare Properties Trust, after buying its management.

Calan's board has formed a sub-committee of independent directors to investigate "a merger" and Macquarie NZ is acting as adviser.

ING has retained First NZ Capital as its advisers. If the takeover is successful, it will result in a company with a $1 billion portfolio.