Metlifecare amends merger deal again, halves shares to Vision, may sell property

Wed, 20 Jun 2012

By Jonathan Underhill June 21 (BusinessDesk) - Metlifecare has amended the terms of its merger proposal again, halving the shares it will issue to Vision Senior Living and flagging possible property sales as a way to repay debt rather than raising equity from third parties. The 11th hour changes have won over the majority of institutional investors and the company is confident the merger will win support at a shareholder meeting today to vote on the plan. The rest-home operator’s initial proposal was criticised as being too generous to major...

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