Manor Care Inc. said yesterday that its offer to purchase up to $100 million of notes resulted in more than that amount of securities being turned in by investors.
The Toledo-based company, the nation's largest nursing-home chain, said it will give premiums to investors who responded before the Tuesday deadline for tendering the notes, carrying interest rates of 7.5 and 8 percent. The company also is in the midst of a stock repurchase offer, which could involve a total of $200 million worth by the end of 2005.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.