Allied Healthcare Services (Nasdaq: AIQ) Receives Buyout Offer

Alliance Healthcare Services receives buyout offer – Nasdaq ticker: AKAO

Shares of AIQ are up over 13% on large volumes. Allied Healthcare operates outsourced healthcare services to hospitals and providers and trades under the Nasdaq ticker AIQ. Located in Newport Beach, CA, Allied Healthcare Services operates as partner to over 1,000 hospitals in 45 states. On Friday it closed at $7.95 but Monday’s close saw AIQ reaching $9.00 on news that Tahoe Investment Group has offered to acquire all the outstanding shares for $9.60 per share.

From Allied Healthcare’s press release:

“The Board of Directors of the Company has authorized a Special Committee, comprised solely of directors not affiliated with Tahoe, to evaluate the Expression of Interest. The Special Committee has engaged independent legal counsel and intends to engage an independent financial advisor to assist in its evaluation of the Expression of Interest. In connection with the Expression of Interest, the Special Committee has agreed to waive the provision of the Governance Agreement prohibiting THAIHOT and its affiliates, including Tahoe, from proposing to acquire additional shares of the Company’s common stock. The waiver is for the limited purpose of submitting the Expression of Interest to the Special Committee.”

Allied Healthcare Services sales have dropped from $493.70 million in 2011 to $473.10 million in 2015. Three firms cover AIQ and the most recent analyst activity shows a rating downgrade to “Market Perform” or “Neutral”.

Always perform your own due diligence before making any decisions regarding the buy or sale of any stock. The below data is provided without any guarantee of its accuracy.

Ticker Symbol AIQ
Last Price a/o 4:00 EST  $                  9.00
Average Volume 20,600
Market Cap $85.94 million
Sales $500.5 million
Shares Outstanding 10.8 million
Share Float 4.9 million
Shortable Yes
Optionable No
Inside Ownership 62.50%
Short Float 0.91%
Short Interest Ratio 2.15
Quarterly Return 21.20%
YTD Return -13.40%
Year Return -8.80%