TPG to buy Assisted Living Concepts for about $278 million

Feb 26 (Reuters) - Senior living residence operator Assisted Living Concepts Inc said it agreed to be acquired by private investment firm TPG.

Assisted Living's Class A shareholders will get $12 per share while Class B shareholders will get $12.90 per share, according to the agreement.

The transaction values Assisted Living at about $278 million according to the number of Class A and Class B shares the company had on Oct. 31.

Citigroup Global Markets Inc were Assisted Living's financial advisors while Goldman Sachs & Co advised TPG.