Interesting info from Briefing.com appears below...I bit on the AHG June 15 calls at 7/8...let's see what cooks.
>>11:45 ET ******
APRIA HEALTHCARE (AHG) 11 7/8 +15/16. Investors are showing little interest in the shares of nation's largest home health-care company, despite the fact they may have the opportunity to make some quick, easy money. Here's the story: In June, Apria informs the Street that it is exploring a possible merger or sale of the company; in October, AGH reveals that it has received a buyout offer from Hyperion Partners II L.P. and Transworld Healthcare with a value of $18 a share, $14 in cash and $4 worth of stock in the new company; after looking at the books in Dec, Transworld cut the offer to $16, which resulted in Apria formally declining to agree to a merger. Now we're getting to the good part. Earlier this month, Apria warned that it expects to report a significant 4th qtr loss and that it sees 1998 results well below analysts' estimates. That news sent the stock tumbling to the $9 level. But even with the company's operating performing deteriorating, it does not appear that Hyperion is ready to walk away. In fact, there are reports today that Hyperion and Transworld HealthCare are still interested in buying the struggling company and at the $18 price that was originally offered, this time $15 in cash and $3 in stock. Given that AHG is definitely looking for a buyer and that no one else is likely to come to the table, it would be reasonable to believe that AHG will be receptive to a deal, especially if the price has indeed been raised back to the original $18 a share.<< |
