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BUSINESS
May 25, 2004 | From Reuters
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.
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BUSINESS
May 25, 2004 | From Reuters
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.
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BUSINESS
May 26, 2004
* 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.
BUSINESS
October 7, 1997
Add On Health Systems Inc., a private long-term care software company, has been acquired by Cincinnati-based Omnicare Inc. Terms were not disclosed. Add On has software installations in more than 825 facilities in 44 states. The company specializes in developing clinical and financial software systems for skilled nursing, subacute and assisted living facilities.
BUSINESS
September 5, 1996 | Times Staff and Wire Reports
Pharmacy Deals Announced: Vitalink Pharmacy Services Inc. said it will acquire TeamCare, GranCare Inc.'s institutional pharmacy business, in a $370-million deal that would create a giant provider of drugs to the nursing-home industry. Naperville, Ill.-based Vitalink is an 82%-owned unit of Manor Care Inc., which owns 180 nursing homes in the U.S. The transaction has been approved by the companies' boards but is subject to a vote of GranCare stockholders.
BUSINESS
August 8, 2006 | From Reuters
AmerisourceBergen Corp. and Kindred Healthcare Inc. said they had agreed to form a new public company, combining their pharmacy units that serve mostly nursing homes. The deal sent AmerisourceBergen's shares up 46 cents to $43.18, while Kindred's shares rose $1.94 to $30.94. The new company would be the second-biggest player in the institutional pharmacy market, after leader Omnicare Inc., and it seeks to use its bulk to benefit from the new prescription drug benefits under Medicare.
BUSINESS
January 29, 1985
James Carlson has been named vice president of planning and engineering for CPE Engineers, an Irvine-based firm formerly known as VTN Corp. CPE Engineers, a land planning and civil engineering firm, has developed communities in Mission Viejo, Pacific Palisades, Lake Forest, Laguna Niguel and Newport Beach. Sandra J. Eddy was recently named director of sales training and development at Times Mirror Cable Television in Irvine.
BUSINESS
June 27, 2000 | Bloomberg News
Show no mercy. That continues to be investors' approach toward companies that warn they won't make second-quarter earnings estimates. Among the warnings Monday: * Omnicare Inc. (OCR), the No. 1 U.S. provider of pharmacy services to nursing homes, warned quarterly results will be as much as 31% below analysts' estimates because of lower-than-expected sales. Its stock dived $8.81 to $9.38.
BUSINESS
November 11, 2004 | From Bloomberg News
AES Corp. on Wednesday disputed California Treasurer Phil Angelides' assertions that the company paid too much to its top five executives. AES said equity compensation for its top five executives in 2003 was 19% of total equity compensation granted to all workers, not the 62% cited by Angelides this week. The company also said stock-based pay was tied directly to the company's performance.
BUSINESS
June 17, 1999 | Bloomberg News
Shares of Bergen Brunswig Corp., the No. 3 U.S. drug wholesaler, fell 16% Wednesday amid concerns that a new Medicare-reimbursement program will hurt its PharMerica nursing-home pharmacy unit. The stock fell $3.63 a share to $18.88 in trading of 2.4 million shares, more than triple the three-month daily average. Bergen Brunswig bought PharMerica, the second-largest supplier of pharmacy services to nursing homes, for $1.1 billion in stock and debt in April.
BUSINESS
November 10, 2004 | From Bloomberg News
Four companies -- AES Corp., UnitedGlobalCom Inc., UnumProvident Corp. and Omnicare Inc. -- should be challenged by investors because of the large percentage of stock-based pay awarded to their top executives, California Treasurer Phil Angelides said. At each company, more than half of the stock options and grants the company awarded went to its top five executives, Angelides said. The California Public Employees' Retirement System, or CalPERS, the largest U.S.
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