National Home Health Care agrees to deal
-
- May
- 10
Scarsdale-based National Home Health Care Corp. said yesterday that it agreed to be purchased by Angelo Gordon & Co., a Manhattan investment bank, for $12.50 a share in cash. Angelo Gordon & Co. had previously agreed to pay $11.50 a share.
A special committee of National’s board decided unanimously that the terms of the $12.50 per-share offer are better than the terms of the $12.00 per-share deal offered by Premier Home Health Care Services Inc. of White Plains.
The board accepted the committee’s recommendation to enter into the new agreement with Angelo Gordon. National Home Health said it will adjourn its shareholders meeting to approve the transaction until May 29. The deal is expected to close by mid-October.
This entry was posted
on Thursday, May 10th, 2007 at 5:55 pm by Allan Drury.
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