Thursday, April 29, 2010

American HomePatient deal may take company private

American HomePatient's largest lenders and its biggest stockholder — an investment fund managed by Highland Capital Management — agreed to a deal that should result in the home health company going private.
The transaction involving Brentwood-based American HomePatient comes after 10 agreements under which its lenders delayed taking action to collect a $226 million loan owed by the company. The money initially had been due August 1 last year.

A restructuring of American HomePatient's senior debt would follow the going-private transaction, through which the company would buy for 67 cents each all shares of stock not held by Highland-managed accounts.

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