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Dr. Hugh Akston

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  • AdCare Tender Offer Looks Improbable [View article]
    The "tender offer" is officially dead. ADK declined -30% since our article vs. S&P return of +6.8%.

    Brogdon Family, LLC Announces Cancellation of Planned Tender Offer for Majority Interest in AdCare Health Systems

    Brogdon Family, LLC (“Brogdon Family”), a Georgia limited liability company owned in part by Christopher F. Brogdon, a Director of AdCare Health Systems, Inc. (NYSE MKT: ADK) (NYSE MKT: ADK.PRA), today announced that, effective immediately, it is canceling its planned tender offer to acquire a majority interest in AdCare Health Systems, Inc.. Brogdon Family had planned, subject to, among other things, obtaining necessary financing, on acquiring at least a 55% interest, and up to a 75% interest, in the outstanding common stock, on a fully-diluted basis, of AdCare, at a cash purchase price of $8.00 per share. However, failure to obtain the necessary financing has caused Brogdon Family to cancel the planned tender offer.
    Oct 23 06:11 PM | Likes Like |Link to Comment
  • AdCare Tender Offer Looks Improbable [View article]
    Closing this trade; ADK is -28.7% since this article was published vs. -1.12% for the S&P 500.
    Jul 3 04:00 PM | Likes Like |Link to Comment
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