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Saga Group to Grow Healthcare Division with Strategic Acquisition
Practices
Paul, Weiss client Saga Group Limited entered into a definitive agreement to purchase Allied Healthcare International Inc., a Nasdaq-listed New York company that is a leading provider of home health and social care in the United Kingdom and Ireland, on July 29. The acquisition will allow Saga to continue to grow their healthcare division, becoming the pre-eminent provider of domiciliary care in the U.K. The purchase price of $3.90 per share represents a premium of 59 percent over Allied's closing price of $2.45 on July 28. The aggregate purchase price for all outstanding shares of Allied common stock, including outstanding options, will be approximately $175 million.
The Paul, Weiss team advising Saga Group on the transaction includes corporate partner David K. Lakhdhir and tax partner Jeffrey B. Samuels.