GREENERY GROUP SHAREHOLDERS APPROVE MERGER WITH HORIZON HEALTHCARE CORP.
NEWTON, Mass., Nov. 30 /PRNewswire/ -- Greenery Rehabilitation Group, Inc. (NYSE: GRG) announced that its shareholders have approved the previously announced merger of GRG into Horizon Healthcare Corp. (NYSE: HHC) at a Special Shareholders' Meeting earlier today. The preliminary tabulation of shareholder votes at the meeting was as follows: Voting for the merger 6,963,266 Voting against the merger 35,657 Voting, but abstaining 6,550 Not voting 1,195,716 Total shares entitled to vote 8,201,189 Approximately 85 percent of all shareholders voted in favor of the merger. (Approximately 99 percent of those voting voted for the merger.) A majority vote of all shareholders is required to approve the merger. The merger agreement provides for the exchange of 4 GRG shares for 1 HHC share. HHC shareholders are expected to vote on the merger later today. A spokesman for GRG stated that the merger is expected to be consummated when all documentation and regulatory approvals are available, which is expected in the near future. -0- 11/30/93 /CONTACT: Gerard M. Martin, chairman of Greenery Rehabilitation Group, 617-244-4744/ (GRG HHC)
CO: Greenery Rehabilitation Group, Inc.; Horizon Healthcare Corp. ST: Massachusetts IN: HEA SU: TNM
CM-JL -- NE008 -- 8878 11/30/93 16:07 EST
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|Date:||Nov 30, 1993|
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