Genesis HealthCare Shareholders Approve Merger Agreement with Formation Capital and JER Partners
2007年5月31日 - 12:18AM
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Genesis HealthCare Corporation (�GHC� or �Genesis�) (NASDAQ: GHCI)
today announced that, at the Company�s reconvened annual meeting,
Genesis shareholders approved the amended merger agreement between
Genesis and a venture between affiliates of Formation Capital, LLC
(�Formation�) and JER Partners (�JER�). On May 19, 2007, Genesis
announced that it had amended its merger agreement with a venture
between affiliates of Formation and JER to increase the
consideration payable to Genesis shareholders to $69.35 per share
in cash. Under the amended agreement, if the transaction is not
completed prior to July 31, 2007, the purchase price will increase
by approximately 9% per annum, or $0.01710 per day, from July 31,
2007 through August 31, 2007, and by approximately 10% per annum,
or $0.01900 per day, from September 1, 2007 until the transaction
closes. The transaction remains subject to receipt of certain
regulatory approvals and other customary closing conditions.
Genesis currently expects the transaction to be completed during
July. About Genesis HealthCare Corporation Genesis HealthCare
Corporation (NASDAQ: GHCI) is one of the nation's largest long-term
care providers with over 200 skilled nursing centers and assisted
living residences in 13 eastern states. Genesis also supplies
contract rehabilitation therapy to over 600 healthcare providers in
20 states and the District of Columbia. About Formation and JER
Formation Capital is a private equity firm in the senior housing
and long-term care industry. Over the past five years, Formation
Capital has completed over $1.5 billion of acquisitions in the
sector and provides asset management services to over 250
facilities nationwide. For more information on Formation Capital,
please visit www.formationcapital.com. JER Partners is the private
equity investment arm of J.E. Robert Companies, a real estate
investment management company with more than 25 years of experience
in sourcing, underwriting and managing a broad spectrum of real
estate equity investments and debt products in North America and
Europe. JER has completed over $1.1 billion of acquisitions in the
senior housing sector. JER�s primary investments are in office,
hospitality, retail, multi-family, healthcare-related real estate
and industrial properties. Other areas of investment include
commercial mortgage-backed securities (�CMBS�) and mezzanine
financing. For more information on JER, please visit www.jer.com.
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