TPG to buy Assisted Living Concepts for about $278 million

Tue Feb 26, 2013 8:06am EST

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.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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