Beverly looks to stave off takeover through auction
NEW YORK – Nursing home operator Beverly Enterprises Inc. (NYSE: BEV) has announced that it has opened its financial records to several potential suitors. The move is intended to avoid a $1.5 billion takeover bid from a group of investors and, instead, complete an auction of the 351-nursing home company as soon as possible.
Officials at Fort Smith, Ark.-based Beverly say they have receive plenty of interest from potential buyers, adding that the firm has received queries from about a dozen parties. Officials did not name the potential buyers.
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