Angelica accepts 343,900 shares in offer ended Monday

By Lisa Kerner

Charlotte, N.C., Aug. 4 - Angelica Corp. said it accepted for cancellation and payment options to purchase 343,900 shares of its common stock for a total of about $1.47 million in the offer ended Aug. 4.

According to a schedule TO filed with the Securities and Exchange Commission, Angelica offered to purchase for cash all outstanding options to purchase shares of its common stock with an exercise price less than $22 per share and outstanding options to purchase up to 91,463 shares of its common stock with an exercise price greater than $22 per share.

In July, Angelica announced that its shareholders approved the company's merger agreement with a company formed by Lehman Brothers Merchant Banking.

On May 22, Angelica agreed to be taken private for $22 per share in cash.

Angelica is a Chesterfield, Mo.-based textile rental and linen management services company.

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