Senior living residence operator Assisted Living Concepts Inc said it agreed to be acquired by private investment firm TPG. Assisted Living's Class A shareholders will get $12 per share while Class B shareholders will get $12.90 per share, according to the agreement.The transaction values Assisted Living at about $278 million according to the number of Class A and Class B shares the company had on Oct. 31.Citigroup Global Markets Inc were Assisted Living's financial advisors while Goldman Sachs & Co advised TPG.
Assisted Living Concepts, Inc. (ALC), together with its subsidiaries, operates senior living residences in the United States. Shares of ALC remained unchanged at $9.70. In the past year, the shares have traded as low as $6.93 and as high as $20.33. On average, 65094 shares of ALC exchange hands on a given day and today's volume is recorded at 48757.
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