Hospice provider Odyssey HealthCare, Dallas, said stockholders have approved the proposed acquisition of the company by Atlanta-based Gentiva Health Services. The deal is expected to close on or around Aug. 16.
Odyssey Healthcare shareholders OK Gentiva deal
In May, the two companies announced Gentiva’s purchase of Odyssey for about $1 billion in an all-cash transaction. On Aug. 9, Odyssey said if the deal is completed, Odyssey stockholders will receive $27 in cash for each outstanding share of Odyssey common stock they hold. At today’s special meeting of Odyssey stockholders, holders of approximately 80.4% of the outstanding shares of Odyssey common stock that were entitled to vote adopted the merger agreement and approved the merger, according to a news release.
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