Manor Care shareholders OK merger with Carlyle Group affiliate

By Lisa Kerner

Charlotte, N.C., Oct. 17 - Manor Care, Inc. stockholders approved the company's merger with an affiliate of the Carlyle Group at a special meeting held on Wednesday.

Approximately 99% of the shares present and voting voted for the approval of the merger agreement. The number of shares voting to approve the merger agreement represents some 76% of the total number of shares outstanding and entitled to vote, a company news release stated.

The merger agreement gives Manor Care stockholders $67 cash per Manor Care share, with the transaction slated to close in the fourth quarter.

On July 2, Manor Care agreed to be taken be taken private by the Carlyle Group for $6.3 billion.

Manor Care is a Toledo, Ohio-based provider of short-term post-acute and long-term health care.

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