Beverly Enterprises amends merger
FILLMORE CAPITAL TO REPLACE NORTH AMERICAN SENIOR CARE AS PARTNER
By Murray W. Wolf
Beverly Enterprises Inc. (NYSE: BEV) of Fort Smith, Ark., announced Nov. 21 that financing commitments related to its previously reported merger process had been fulfilled, including receipt of a $350 million equity commitment and a $50 million letter of credit.
The company has entered into an amended merger agreement at a revised all-cash price of $12.50 per share. Under the amended agreement, Fillmore Strategic Investors LLC, an affiliate of Fillmore Capital Partners – a private equity firm focused on investments principally in the lodging and healthcare sectors – will replace North American Senior Care (NASC) and its affiliates as the acquiring entity.
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
Comments are closed, but trackbacks and pingbacks are open.