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US Renal Care extends takeover offer for Dialysis Corp until 1 June.


Privately-held outpatient dialysis services firm US Renal Care, or USRC, said yesterday it has extended its takeover offer for Dialysis Corporation of America (NASDAQ:DCAI) to 1 June 2010 from 19 May.

With the extension the company intends to comply with the requirement for a provision of five trading days following the expected satisfaction of an agreed financing condition with Royal Bank of Canada (TSE:RY).

A total of 2,119,383 ordinary shares in Dialysis Corporation had been transferred to USRC by 12 May.

In mid-April USRC said it was offering USD112m (EUR89.2m) in cash, or USD11.25 per share, for Dialysis Corporation. USRC is advised by RBC Capital Markets and Fulbright & Jaworski on the transaction. Dresner Partners and Arent Fox are acting as advisors to Dialysis Corporation.

Country: ; USA

Sector: Healthcare

Target: Dialysis Corporation of America

Buyer: US Renal Care Inc

Deal size in USD: 112m

Type: Corporate acquisition

Financing: Cash

Status: Bidding

Buyer advisor: Fulbright & Jaworski LLP; RBC Capital Markets Corp

Comment: US Renal Care extends takeover offer

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Publication:M & A Navigator
Date:May 14, 2010
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