Waiting period ends early in Blackstone's proposed takeover of Apria Healthcare

By Lisa Kerner

Charlotte, N.C., July 10 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in Blackstone Group's bid to take Apria Healthcare Group, Inc. private.

In June Apria agreed to be acquired by a Blackstone affiliate for $21 cash per share in a transaction valued at about $1.6 billion, an Apria news release said.

Apria and Blackstone said they expect to close the transaction in the second half of 2008, pending shareholder approval.

Once the acquisition is complete, Apria will become wholly owned by Blackstone and its affiliates. The home health care company will maintain its corporate headquarters in Lake Forest, Calif., while Apria's infusion division will remain in Denver, it was previously reported.

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