Legal Issues

Omnicare to contribute to NCS stockholder escrow fund

Published in Managed Care Weekly Digest, January 27th, 2003

Omnicare, Inc., (OCR), a provider of pharmaceutical care for the elderly, announced that it has agreed, subject to court approval, to contribute $4,500,000 to the $13,500,000 stockholder escrow fund which the Delaware Chancery Court has ordered be entirely funded with amounts withheld from the aggregate amount payable to stockholders of NCS HealthCare, Inc. (NCSS).

On January 2, 2003, Omnicare was enjoined by the Delaware Chancery Court from paying $13,500,000 of the aggregate amount payable to stockholders of NCS in Omnicare's tender offer and merger and was ordered to deposit such amount in an interest-bearing escrow account pending a determination by the Chancery...

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Source: Managed Care Weekly Digest (2003-01-27)

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