Based in Toledo, Ohio, Manor Care provides skilled nursing, rehabilitation and long-term care, assisted living, hospice and home-care services through a network of more than 500 facilities. The company operates in 33 states primarily under the Heartland, ManorCare Health Services and Arden Courts names. Manor Care shareholders will receive $67 in cash for each share of common stock owned, which represents a 20 percent premium to the stock's closing price of $55.75 on April 10, the day prior to its announcement it would evaluate strategic alternatives. The transaction, which is contingent upon shareholder and regulatory approval, is expected to close in the fourth quarter.