America Service Group Announces Completion of Merger
June 03 2011 - 3:30PM
Business Wire
America Service Group Inc. (the “Company” or “ASG”)
(NASDAQ: ASGR), the parent company of PHS Correctional
Healthcare, Inc., today announced the completion of its previously
announced merger (the “Merger”) pursuant to the Agreement and Plan
of Merger, dated March 2, 2011 (“Merger Agreement”), under which
Valitás Health Services, Inc. (“Valitás”), the parent company of
Correctional Medical Services, Inc. (“CMS”), acquired the Company
for cash consideration of $26.00 per share, without interest, less
any applicable withholding taxes (“Merger Consideration”). The
Merger was approved by the stockholders of the Company at a special
meeting held on June 1, 2011.
With the closing of the Merger, the Company’s common stock will
cease to trade on NASDAQ and will be delisted. Letters of
transmittal allowing former ASG stockholders of record to deliver
their shares to the paying agent in exchange for payment of the
Merger Consideration will be promptly distributed. Stockholders of
record should wait to receive the letter of transmittal before
surrendering their shares.
About America Service Group
America Service Group Inc., based in Brentwood, Tenn., is a
nationwide provider of correctional healthcare services in the
United States. The Company, through its subsidiaries, provides a
wide range of healthcare programs to government agencies for the
medical care of inmates. More information about the Company can be
found on its website at www.asgr.com.
About Valitás Health Services
Valitás Health Services is the parent company of CMS, a
nationwide provider of comprehensive correctional healthcare
services, offering a comprehensive suite of medical, dental,
pharmacy and mental health services for the incarcerated
population. More information about Valitás can be found at the CMS
website at www.cmsstl.com.
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