Five Star Senior Living - McKnight's Senior Living

Five Star Senior Living

Senior Star counters ABP’s offer to Five Star shareholders

Senior Star Management Co. said Thursday that it plans to offer owners of Five Star Quality Care common stock $3.45 per share in an effort to purchase up to 10 million shares, which would represent approximately 20% of outstanding shares. The move comes a week after ABP Acquisition LLC made a $3-per-share offer to shareholders.

ABP looks to buy 20% of Five Star common stock

ABP Acquisition LLC announced Monday that it intends to make a cash tender offer for up to 10 million shares of common stock of Newton, MA-based Five Star Quality Care at a $3 per share, a 57% premium over Friday’s closing price of $1.91 per share.

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