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BUSINESS
August 11, 2001 | Marc Ballon
Apria Healthcare Group Inc.'s biggest shareholder has sold the majority of its stake in the Costa Mesa home-care company, pocketing about $100 million in the process. Relational Investors LLC, an activist institutional investor that took charge of the nation's largest home-health-care company about 2 1/2 years ago, sold 8.5 million shares--a 16% stake--at $23.83 each. The sale brought in nearly $202.6 million for shares that the firm acquired for an average of $12, or a total of $102 million.
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BUSINESS
August 11, 2001 | Marc Ballon
Apria Healthcare Group Inc.'s biggest shareholder has sold the majority of its stake in the Costa Mesa home-care company, pocketing about $100 million in the process. Relational Investors LLC, an activist institutional investor that took charge of the nation's largest home-health-care company about 2 1/2 years ago, sold 8.5 million shares--a 16% stake--at $23.83 each. The sale brought in nearly $202.6 million for shares that the firm acquired for an average of $12, or a total of $102 million.
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BUSINESS
April 22, 1999 | Dow Jones
A group including Richard C. Blum & Associates Inc. has reduced its stake in Apria Healthcare Group Inc., the Costa Mesa provider of home health care, to 6.2%. In a filing Tuesday with the Securities and Exchange Commission, the group said it sold 2.2 million common shares of Apria between April 1 and April 16 at prices ranging from $11.97 to $13.54 a share. The Blum group, which currently holds 3.23 million Apria shares, also reported that it has agreed to sell 3.
BUSINESS
October 10, 1997 | Bloomberg News
An investment group acquired a 9.99% stake in Apria Healthcare Group Inc. Relational Investors LLC and its affiliates, which hold 5.14 million shares of common stock, said in a report filed Thursday with the Securities and Exchange Commission that they believe Apria is undervalued. Costa Mesa-based Apria, a provider of home health care services, hired investment bank Goldman, Sachs & Co. to help explore options such as finding a buyer. Apria stock closed Thursday at $14, unchanged.
BUSINESS
November 24, 1998 | Bloomberg News
Relational Investors LLC, the largest shareholder of Apria Healthcare Group Inc., raised its stake in the Costa Mesa home health care provider to 13.4%, from 9.9%. The investment partnership and affiliates most recently bought Apria shares for $3.80 to $5.56 each from Oct. 26 to Nov. 19, according to a Securities and Exchange Commission filing. San Diego-based Relational, which now holds 6.
BUSINESS
May 28, 1998 | BARBARA MARSH, TIMES STAFF WRITER
Apria Healthcare Group Inc.'s board of directors voted Wednesday to call off the company's search for a possible merger partner and press ahead as an independent company. At the conclusion of a four-hour meeting Wednesday, five directors of the Costa Mesa company resigned, including two who were involved in potential bids for the company: Orange County developer George L. Argyros and investment banker Frederick S. Moseley. A source said all five voluntarily stepped down at the urging of Ralph V.
BUSINESS
February 9, 2001 | MARC BALLON, TIMES STAFF WRITER
Costa Mesa drug maker ICN Pharmaceuticals Inc. said Thursday that longtime director Richard W. Starr has died and that it has added to its board the chairman and a director of Occidental Petroleum Co. Starr, a director for more than 17 years, died Jan. 29. ICN did not disclose any details. In October, director Michael Smith also died. ICN said in a press release that Ray R. Irani, Occidental's chairman and chief executive, and Rosemary Tomich, an Occidental director, joined ICN's board.
BUSINESS
April 2, 1998 | JAMES S. GRANELLI, TIMES STAFF WRITER
Apria Healthcare Group Inc. said Wednesday that directors have formed a three-member committee to assess the company's "future course," following the collapse of its deal with a private investment group. The committee is to report back to the board at its next scheduled meeting April 28.
BUSINESS
October 23, 1998 | BARBARA MARSH, TIMES STAFF WRITER
Apria Healthcare Group Inc., attempting to clean up its financial books, said Thursday it took a $160-million charge for its third quarter. In a related move, the problem-ridden Costa Mesa home health company also said it plans to raise $50 million by offering stockholders the rights to purchase bonds that can be converted into stock. Steve Reznick, an analyst at ML Stern Inc.
BUSINESS
March 9, 2001 | MARC BALLON, TIMES STAFF WRITER
ICN Pharmaceuticals Inc., revising its plan to split its business into three separate publicly traded companies, said Thursday it will sell 40% of its proposed ICN International to the public, twice the amount originally announced. The Costa Mesa drug maker, under fire for not moving quickly enough on the restructuring plans, said it plans to sell the shares in the second quarter and hopes to have the stock listed on the Budapest Stock Exchange.
BUSINESS
October 26, 2000 | From Times Staff and Wire Reports
ICN Pharmaceuticals Inc. said Wednesday that activist shareholder David Batchelder has resigned as a director of the Costa Mesa drug maker, which last week announced a new restructuring plan. Batchelder's firm, Relational Investors LLC, buys stakes in troubled companies and seeks to turn them around. He joined ICN's board last year after his firm bought 1.6 million shares in the company, a 2% stake.
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