Neighborcare Inc

Omnicare Inc., a provider of prescription drugs to nursing homes, made an unsolicited offer to buy rival NeighborCare Inc. for $1.35 billion to expand its geographic reach and boost profit. The offer of $30 a share in cash represents a premium of 70% over NeighborCare's closing stock price Friday of $17.67. The shares rose $10.24, or 58%, to $27.91 on Nasdaq. NeighborCare said its board had rejected a previous offer from Omnicare but would review the latest proposal. The deal would be worth $1.

Omnicare Inc., a provider of prescription drugs to nursing homes, made an unsolicited offer to buy rival NeighborCare Inc. for $1.35 billion to expand its geographic reach and boost profit. The offer of $30 a share in cash represents a premium of 70% over NeighborCare's closing stock price Friday of $17.67. The shares rose $10.24, or 58%, to $27.91 on Nasdaq. NeighborCare said its board had rejected a previous offer from Omnicare but would review the latest proposal. The deal would be worth $1.

* Shareholders of J.P. Morgan Chase & Co. and Bank One Corp. approved the merger of their two companies in separate votes, bringing the $58-billion deal a step closer to reality. Regulators still would have to sign off on the transaction, which the two banks expect to close by midyear. * * NeighborCare Inc., which supplies drugs to nursing homes, rejected a $1.24-billion acquisition offer from rival Omnicare Inc.