Apria denies sale rumor
August 2, 2004
LAKE FOREST, Calif. - A New York Post story that claims Apria has hired bankers and is “quietly exploring” a possible sale of the company is untrue, Apria stated in a release issued July 30.
On July 29, the New York Post cited “sources familiar with the matter” and reported that: “Within the last few months, Apria has held talks with several investment firms, including Blackstone Group, Warburg Pincus and Madison Dearborn Partners, about buying the company and taking it private.”
As a matter of policy, Apria does not comment on rumors and speculation concerning transactions that involve the company. However, in light of speculative trading in Apria stock following publication of the New York Post story, Apria is making an exception to its policy on this occasion, the company stated.
Apria’s release read:
Apria does receive inquiries from time to time concerning the possible acquisition of the Company, and in the exercise of their fiduciary duty Apria's board of directors considers, from time to time, whether the best interests of stockholders would be served by pursuing such a transaction. At this time, there is no transaction pending and Apria is not engaged in any effort looking to, or negotiations with any party concerning, a sale of the Company.
Apria’s stock closed at $27.06 April 27, and by mid day Friday, the had risen to $29.40 a share. Over the past 52 weeks, the company’s stock has ranged between $25 and $32 a share.