November 19, 1986
The Pasadena-based nursing home chain said discussions with its senior management and a group of investors regarding a possible leveraged buyout had been terminated. Beverly Enterprises said senior management has advised the company that it is continuing to study the feasibility of a leveraged buyout. The firm added that "there is no assurance that any proposals will be made, or that, if made, they would be acceptable to the company."
November 22, 1986
In the face of its fading merger prospects with Wickes Cos., Lear Siegler said its board of directors will meet to consider such options as a recapitalization and a leveraged buyout. Wickes has said it is "not optimistic" that it will be able to arrange satisfactory bank financing for the $1.7-billion deal.