Odyssey HealthCare, VistaCare merger clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., Feb. 5 - The Hart-Scott-Rodino waiting period has expired in connection with Odyssey HealthCare, Inc.'s proposed acquisition of VistaCare, Inc.

Odyssey subsidiaries began an $8.60-per-share tender offer for VistaCare on Jan. 30.

The offer is set to expire at midnight ET on Feb. 27, according to a company news release.

The transaction is structured as a two-step acquisition: the cash tender offer for outstanding shares of VistaCare common stock will be followed by a cash merger in which Odyssey would acquire any remaining outstanding VistaCare shares.

It was previously reported that Odyssey agreed to acquire VistaCare for $147.1 million in a deal set to close in the first quarter.

Both VistaCare and Odyssey are hospice care providers. VistaCare is located in Scottsdale, Ariz., and Odyssey is based in Dallas.

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