ABP Acquisition LLC and Five Star Quality Care, Inc.MorrowSodali
ABP Acquisition LLC has commenced a cash tender offer for up to 10,000,000 shares of common stock of Five Star Quality Care, Inc. (Nasdaq: FVE) at a price of $3.00 per share. The offer price represents a 57% premium over FVE’s closing price of $1.91 per share on September 30, 2016, the last trading day prior to today’s announcement, and represents a 34% premium over the average year to date closing trading prices of FVE shares of $2.24 per share. The number of shares ABP Acquisition LLC intends to offer to purchase in the tender offer represents approximately 20% of the outstanding shares of FVE common stock. The tender offer will be open to all FVE stockholders.
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