National Home Health Care merger approved
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- June
- 18
National Home Health Care Corp., the Scarsdale-based home health-care provider that has been the subject of a bidding war, reported today that its shareholders have approved a merger agreement with Angelo Gordon & Co., an investment bank based in Manhattan.
NHHC’s shareholders will be entitled to $12.75 per share. The transaction is expected to be completed by Sept. 10.
Angelo Gordon has agreed to the settlement of a class-action lawsuit in exchange for the payment of an additional 10 cents a share to NHHC shareholders. The suit was filed earlier this year in response to NHHC’s original intention to accept an offer of $11.35 to $11.50 a share.
The other potential buyer was Premier Home Health Care Services Inc. of White Plains. Premier and Angelo Gordon have been submitting competing offers to buy the company since last fall.
This entry was posted
on Monday, June 18th, 2007 at 4:12 pm by Alison Bert.
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