Integrated Health Services/Coram merger terminated; Coram will pursue lawsuit against Caremark.
IHS/CORAM MERGER CALLED OFF AFTER REJECTION OF AMENDED EXCHANGE OFFER by Coram Healthcare, which would have reduced the number of Integrated Health Services shares issued for each share of Coram stock from .21 to .15. Coram and IHS executed the amendment to the agreement on March 30. It was to become effective at the close of business on April 4, "unless either party gives the other prior notice of cancellation of the amendment," Coram said. Coram announced April 7 that it had received from IHS a notice of termination of the amendment and of the merger agreement itself. Coram said IHS will pay Coram $17.5 mil. plus expenses still to be determined.
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