Ohio: Manor Care Sale in Jeopardy
Posted by Patti on November 25th, 2007 / Print This Post
The sale of Manor Care to Carlyle may be in jeopardy, in Ohio at least.
THREE WEEKS after the sale of Toledo’s Manor Care Inc. was to have closed, the deal has been stalled by state regulators nationwide, and Wall Street is getting jittery.
In a sign that investors are worried that the $6.3 billion deal might not be completed, shares of the nation’s largest nursing home operator were trading last week nearly 9 percent below the $67 price at which they will be redeemed if the sale goes through.
“It’s worrisome,” said one analyst who spoke on the condition of anonymity. “The longer this thing takes to close, the more bad news may pop up.”
Good. The more time, the more truthful information can be brought to light.