Posted under Venture Capital
from http://www.pehub.com 1552 days ago

Assisted Living Concepts announced on Thursday that its stockholders had approved TPG‘s previously announced plan to acquire the company. Under the agreement, ALC stockholders will receive $12 in cash for each share of Class A common stock while holders of ALC’s Class B common stock will receive $12.90 in cash per share. The transaction is expected to close this summer. Assisted Living Concepts is a Wisconsin-based operator of housing for senior citizens.

PRESS RELEASE
MENOMONEE FALLS, WI–(Marketwired – May 16, 2013) – Assisted Living Concepts, Inc. (NYSE: ALC) (“ALC”) announced that, at a special meeting of stockholders held earlier today, its stockholders voted to approve the previously announced merger agreement with affiliates of TPG. Under the terms of the merger agreement, ALC stockholders will receive $12.00 in cash for each share of Class A common stock. In accordance with the ALC charter, based on the Class A ...

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