Magellan Health discloses collapse of deal to sell Charter Behavioral stake
Article Abstract:
Magellan Health Services Inc.'s agreement to sell its remaining 50% stake in Charter Behavioral Health Systems collapsed. Crescent Operating Inc. called off the agreement to buy the remaining interest in Charter, because it will focus on its core real-estate and equipment-sales businesses. Crescent will retain its 50% share in Charter, but it probably won't invest any more money in the company. Charter is an unprofitable operator of psychiatric hospitals. Magellan said that retaining interest in Charter could reduce fiscal 1999 earnings as much as 10%.
Comment:
Crescent Operating Inc. called off the agreement to buy the remaining interest in Charter
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
ProLogis agrees to pay $940 million to acquire rival Meridian Industrial
Article Abstract:
Industrial property real estate investment trust ProLogis is set to buy Meridian Industrial Trust in line with recent consolidations in the REIT industry. Shares in ProLogis closed down for the day in New York as investors worried that it was paying too much for Meridian. ProLogis feels that the acquisition of Meridian will give it key positioning to be a global logistics leader.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: MCI offers to sell assets to speed deal. MCI to sell Concert stake to partner. MCI posts $182 million loss on charges of $515 million amid takeover bids
- Abstracts: Seagram is close to deal to sell to MGM Polygram film library for $400 million. Murdick sells TV Guide to an affiliate of TCI
- Abstracts: New Motorola technology will feature voice commands to get internet data
- Abstracts: Cisco planning an alternative to traditional switch systems
- Abstracts: Summations are offered in Microsoft case; antitrust trial's verdict seen later this year