Apria Healthcare Group (AHG) Shareholders Approve Merger
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Apria Healthcare Group Inc. (NYSE: AHG) announced that its stockholders have voted to approve and adopt the proposed merger of Sky Acquisition LLC, a wholly-owned subsidiary of an affiliate of The Blackstone Group, with and into Apria Healthcare Group Inc. pursuant to the terms of the merger agreement dated as of June 18, 2008.
Based upon the preliminary tally of shares voted, approximately 38,430,579 shares were voted (in person or by proxy) at the special meeting held today, representing 85.5% of Apria's total outstanding shares entitled to vote as of the August 18, 2008 record date. Of those shares voting, approximately 38,294,129 shares voted in favor of approval of the merger agreement, representing 99.6% of the shares voted at the special meeting.
Under the terms of the merger agreement, each issued and outstanding share of Apria common stock will be converted into the right to receive $21.00 in cash, without interest and less applicable withholding taxes.
The parties to the merger agreement currently expect to complete the merger in the fourth quarter of 2008. [SM]
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Mergers and AcquisitionsStocks Mentioned
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