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

Hospitals, Company Planning/Goals, Magellan Health Services Inc., Article, Crescent Operating Inc.

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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.

Real estate investment trusts, Mergers, acquisitions and divestments, ProLogis, Meridian Industrial Trust Inc.

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