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Article: RAMSAY HEALTH CARE, INC. AND RAMSAY MANAGED CARE, INC. ANNOUNCE MERGER AGREEMENT.
- Article from:
- Business Wire
- Article date:
- October 2, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW ORLEANS--(BUSINESS WIRE)--Oct. 2, 1996--Ramsay Health Care, Inc. (NASDAQ: RHCI) and Ramsay Managed Care, Inc. (NASDAQ: RMCR) today jointly announced the signing of a definitive agreement and plan of merger pursuant to which Ramsay Managed Care will become a wholly owned subsidiary of Ramsay Health Care.
Under the terms of the merger, each share of Ramsay Managed Care common stock will be exchanged for one-third (1/3) of a share of Ramsay Health Care common stock, and each share of Ramsay Managed Care convertible preferred stock (each of which is convertible into 30 shares of common stock) will be exchanged for one share of Ramsay Health Care convertible preferred ...