Manor Care Inc. sold to infamous Carlyle Group for over $6 billion
NEW YORK (MarketWatch) -- Manor Care Inc. has agreed to be acquired by private-equity firm Carlyle Group for about $6.3 billion in cash, the nursing-home operator said Monday.
Under terms of the deal, Manor Care's stockholders will receive $67 in cash for each share of common stock they own.
This represents a premium of less than 3% to Friday's closing price of $65.29, but it's 20% higher than Manor Care's $55.75 price on April 10, the day before the company announced it was exploring strategic alternatives.
This sale proves the healthy financial condition of the nursing home industry, and the lack of need for so called tort reform to insure their profitability.
for more information about Carlyle Group, click here.
