NeighborCare, Baltimore, said its board will consider a revised buyout offer of $1.7 billion, including assumption of debt, from Omnicare, Covington, Ky. Both companies operate long-term-care pharmacies. Omnicare first offered to buy NeighborCare in May 2004, for $1.5 billion, and was rejected. Omnicare said the Federal Trade Commission had let the antitrust review period for the deal end without intervening. NeighborCare had net income of $9.7 million, or 22 cents per share, on revenue of $404.7 million in the first quarter. Omnicare earned net income of $58 million, or 54 cents per share, on revenue of $1.1 billion in the quarter. -- by Joseph Mantone
Long-term-care pharmacy chain to consider rival's offer
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