![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Tuesday, February 26, 2013 2:03:12 PM
Assisted Living Concepts to be acquired by investment firm TPG in $278 million deal
Associated PressAssociated Press – 1 hour 43 minutes ago
RELATED QUOTES
Symbol Price Change
ALC 11.85 2.15
MENOMONEE FALLS, Wis. (AP) -- Senior living facility operator Assisted Living Concepts Inc. said Tuesday it agreed to by acquired by private investment firm TPG for about $280 million.
Assisted Living Concepts said TPG agreed to buy it for $12 per Class A share and $12.90 per Class B share. That comes to approximately $278.3 million in cash based on the company's most recent share count. ALC said its board has unanimously approved the sale, and so has the special committee that was reviewing the company's strategy.
Shares of Assisted Living Concepts jumped $2.18, or 22.5 percent, to $11.88 in midday trading. The stock is down 45 percent since May 10, when the company said it would delay is first-quarter report because it had found possible irregularities related to leases.
Assisted Living Concepts runs 210 facilities in 20 states. The company has been reviewing its strategy and is trying to address operational problems that have hurt its admissions. It fired CEO Laurie Bebo at the end of May and hired Dr. Charles H. "Chip" Roadman II, a former surgeon general of the U.S. Air Force, as its interim CEO.
The company also took a loss over the first nine months of the year because of legal and regulatory costs, lease termination costs, and other charges. Its revenue fell 2 percent to $171.4 million over that period.
Recent ALC News
- Alcon’s Latest Equipment Breakthrough Technologies, Unity VCS and Unity CS, Receive U.S. FDA 510(k) Clearance • Business Wire • 06/24/2024 05:00:00 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/04/2024 05:35:13 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/04/2024 05:05:22 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/29/2024 09:09:04 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/24/2024 06:10:17 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/17/2024 04:10:31 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/13/2024 08:31:13 PM
- Alcon Reports Strong First-Quarter 2024 Results Driven by Robust Sales in Contact Lenses and Ocular Health • Business Wire • 05/13/2024 08:30:00 PM
- Alcon Announces Results of 2024 Annual General Meeting • Business Wire • 05/08/2024 08:30:00 PM
- Algoma Central Corporation Reports Financial Results for the 2024 First Quarter • Business Wire • 05/01/2024 01:45:00 PM
- Alcon Publishes Agenda for 2024 Annual General Meeting • Business Wire • 04/07/2024 09:59:00 PM
- Alcon Strengthens Leadership in IOL Innovation with the launch of the Clareon Presbyopia Correcting IOLs in India • Business Wire • 03/12/2024 08:30:00 AM
- Vivity, the World’s Leading EDOF IOL, Reaches One Million Milestone • Business Wire • 03/06/2024 02:55:00 PM
- Vivity, la LIO à profondeur focale accrue première au monde, atteint un million d’implants • Business Wire • 03/06/2024 02:55:00 PM
- Vivity, the World’s Leading EDOF IOL, Reaches One Million Milestone • Business Wire • 03/06/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/01/2024 11:44:06 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/29/2024 10:56:33 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/29/2024 06:12:20 PM
- Alcon's Broad Portfolio Delivers Robust Sales and Earnings Growth in FY 2023 • Business Wire • 02/27/2024 09:30:00 PM
- Algoma Central Corporation Reports Financial Results for Fiscal 2023 • Business Wire • 02/26/2024 12:00:00 PM
- Algoma Central Corporation to Issue Fiscal 2023 Financial Results on February 26, 2024 • Business Wire • 02/12/2024 09:22:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/01/2024 06:04:56 PM
- Alcon Canada lance les lentilles cornéennes TOTAL30 Multifocal pour les patients porteurs de lentilles réutilisables atteints de presbytie • Business Wire • 02/01/2024 02:02:00 PM
- Algoma Central Corporation continues to grow product tanker business with the acquisition of two additional vessels • Business Wire • 01/18/2024 01:54:00 PM
- Alcon Shares Rise After Dry-Eye Care Drug Shows Promising Results • Dow Jones News • 01/10/2024 09:12:00 AM
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution • GDLG • Jul 26, 2024 12:30 PM
Southern Silver Files NI43-101 Technical Report for its Updated Preliminary Economic Assessment for the Cerro Las Minitas Project • SSV • Jul 25, 2024 8:00 AM
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM