NHP, AIMCO ENTER INTO MERGER AGREEMENTVienna Vienna, city and province, Austria Vienna (vēĕn`ə), Ger. Wien, city and province (1991 pop. 1,539,848), 160 sq mi (414 sq km), capital and largest city of Austria and administrative seat of Lower Austria, NE Austria, on , Virginia-based NHP NHP Non-Human Primate NHP Natural Health Product NHP Nevada Highway Patrol NHP National Historic Park NHP Nottingham Health Profile NHP National Health Plan NHP Nursing Home Placement NHP Nominal Horsepower NHP Not-Hot Plug (server) Incorporated, the nation's second-largest owner of multifamily rental properties, entered into a merger agreement to be acquired by the Apartment Investment and Management Company (AIMCO AIMCO Apartment Investment Management Company (Columbus, OH) ), of Denver Denver, city (1990 pop. 467,610), alt. 5,280 ft (1,609 m), state capital, coextensive with Denver co., N central Colo., on a plateau at the foot of the Front Range of the Rocky Mts., along the South Platte River where Cherry Creek meets it; inc. 1861. . As of March, the National Multi Housing Council ranked AIMCO the 29th largest apartment owner in the country. Upon completion of the merger, each stockholder will receive for each share of NHP common stock either a combination of .37383 shares of AIMCO common stock and $10 cash, or .74766 shares of AIMCO common stock. In a separate agreement, AIMCO will acquire all NHP common stock from Demeter Holdings Corporation and Capricorn Investors, LP, who together hold a majority of the outstanding shares of that company. Under this transaction, AIMCO will acquire all NHP common stock currently held by Demeter and Capricorn, paying $20 cash for 50 percent of NHP shares held by Demeter. For the remainder of Demeter's shares and all Capricorn shares, AIMCO will pay .74766 shares of common stock per share of NHP common stock. The merger is conditioned on the approval of the stockholders of both companies, the completion of the second transaction, and all state and federal regulatory approvals. Stockholder meetings to approve the merger are expected to take place late this summer. Additionally, AIMCO is negotiating a definitive agreement with Demeter and Capricorn to acquire interests in some real estate interests controlled by NHP Partners, Inc., which is currently controlled by Demeter and Capricorn. Effective May 3, NHP has waived its right of first refusal Right of First Refusal In general, the right of a person or company to purchase something before the offering is made available to others. Notes: For example, a football team may have the right of first refusal on a player's contract. to purchase the real estate being sold to AIMCO, subject to certain conditions. NHP also announced that it will issue rights to waive To intentionally or voluntarily relinquish a known right or engage in conduct warranting an inference that a right has been surrendered. For example, an individual is said to waive the right to bring a tort action when he or she renounces the remedy provided by law for such a distribution to all of its common stock of NHP Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Ltd. to its stockholders. The rights will provide for the issuance of one-third of a share of NHP Financial for each share of NHP common stock at the earlier of the time of the AIMCO merger or December 1. U |
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