Highland ups ante in bid to buy AHP

Sunday, April 30, 2006

DALLAS - It appears Highland Capital Management is making good on its threat to takeover Brentwood, Tenn.-based American HomePatient. Highland, which owns 10% of AHP's stock, has nominated one of its own, Patrick Daugherty, for election to the provider's board of directors, the Nashville Business Journal reported in late March. Highland also seeks to change AHP's bylaws to allow shareholders with 50% of the provider's stock to call special board meetings. Moreover, it wants board vacancies that are created by an increase in the number of members to be filled by election at annual shareholders meetings. Healthcare consultant Schuyler Hoss called Highland's tactics "fairly classic." AHP holds its annual meeting June 7.