ARV Assisted Living Inc. Amends Tender Offer for American Retirement Villas Properties III L.P.Business Editors COSTA MESA Costa Mesa (kŏs`tə mā`sə), city (1990 pop. 96,357), Orange co., S Calif., on the Pacific south of Santa Ana; inc. 1953. It is a transportation, residential, and light industrial center. , Calif.--(BUSINESS WIRE)--Oct. 31, 2001 ARV ARV abbr. Bible American Revised Version ARV n abbr (= American Revised Version) → traducción americana de la Biblia ARV n abbr (= Assisted Living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. Inc. (AMEX AMEX See: American Stock Exchange :SRS SRS, SRS-A see slow-reacting substance. ), the Managing General Partner of American Retirement Villas Properties III L.P., today announced an amendment to the cash tender offer that it commenced through a wholly owned limited partnership, ARVP ARVP Arginine Vasopressin ARVP Autonomous Robotic Vehicle Project (University of Alberta, Canada) Acquisition L.P., on Oct. 18, 2001. The amendment to the tender offer increases both the total number of units that will be purchased and the purchase price per unit. ARVP is now offering to purchase all of the limited partnership units for a net cash purchase price of $400 per unit. The Offer, which began Oct. 18, 2001, will expire at midnight (Eastern Time) on Thursday, Nov. 15, 2001. The Offer, as amended, is conditioned upon, among other things, there being validly tendered and not withdrawn a number of units that will constitute at least 30% of the outstanding units in ARVP III. Founded in 1980, ARV is one of the largest operators of assisted living communities in the nation, currently operating 57 communities containing approximately 6,800 units in 10 states. This news release is for informational purposes only. It does not constitute a solicitation/recommendation statement with respect to the tender offer for ARVP III's limited partnership units. ARVP III's unitholders will be able to obtain ARVP III's solicitation/recommendation statement for free when it becomes available at the SEC's Web site at www.sec.gov. ARV has urged the ARVP III unitholders to carefully review any such solicitation/recommendation statement prior to making any decisions with respect to the tender offer proposal. |
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