Regional Health Properties Inc. has announced a proposed merger with SunLink Health Systems, Inc. This merger has been met with opposition from Charles Frischer of LF Partners, who claims to be the largest outside shareholder of Regional Health. Frischer has raised concerns that the company is moving forward with the merger despite having received what he describes as superior offers from other potential buyers. He disclosed that two significant owners and operators of skilled nursing facilities had submitted offers that could potentially provide greater value than the proposed merger with SunLink. Additionally, a public tender offer for up to 49% of Regional Health's shares at $4.25 was made by Black Pearl, one of these owners. Despite these developments, Regional Health Properties is continuing with its plans to merge with SunLink.
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