February 2, 2007 / 11:33 PM / 11 years ago

National Health panel says buyout offer not in holders' interest

Feb 2 (Reuters) - A National Health Investors Inc. (NHI.N) panel informed Chief Executive Andrew Adams that his offer to buyout the company was not in the best interest of its shareholders, the real estate investment trust said.

    The special committee determined that the terms, which consists of $18 a share of purchase price and $15 a share of dividend, has material contingencies, the company said in a statement.

    The committee unanimously believes continuing to operate National Health as a public company will create greater value for public shareholders than the proposal, the statement said. (Reporting by Rakesh Dubey in Bangalore)

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