Buyout Of Assisted Living - Law Firm Seeks Higher Price For Shareholders

NEW YORK, Feb. 26, 2013 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it has been retained to represent shareholders of Assisted Living Concepts, Inc. (NYSE: ALC).  It was announced that ALC has entered into a definitive agreement to be acquired by TPG, a private investment firm.

Under the terms of the agreement, ALC stockholders will receive $12.00 in cash for each share of Class A common stock. In accordance with the ALC charter, based on the Class A per share merger consideration, holders of ALC's Class B common stock will receive $12.90 in cash per share.

The investigation concerns whether the board of directors of ALC engaged in a full and fair auction for the company obtaining the highest price possible for shareholders while not obtaining personal benefits for themselves in selling to this investment firm at this price.  Indeed, the book value alone of ALC is worth at least $12.08 per share (meaning shareholders would get more from a liquidation of the assets rather than through this buyout).

If you own ALC common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact

Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.

Contacts

Tripp Levy PLLC
Tripp Levy, 877-772-3975
[email protected]

SOURCE Tripp Levy PLLC

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