SAC Capital sells shares of VistaCare, reduces stake to less than 5%

By Lisa Kerner

Charlotte, N.C., Feb. 15 - Investors led by SAC Capital Advisors, LLC decreased their ownership interest in VistaCare, Inc. to 4.8% from 5.9% with the sale of 184,555 shares of the company's stock.

The shares were sold between Feb. 1 and Feb. 14 priced from $8.49 to $8.58, according to a schedule 13D filing with the Securities and Exchange Commission.

The investors beneficially own 813,538 shares of the Dallas-based hospice care provider's outstanding stock.

SAC Capital had purchased 582,974 shares of the company's stock between Nov. 26 and Jan. 23 and sold 310,000 shares between Jan. 23 and Jan. 31, according to prior SEC filings.

Odyssey HealthCare, Inc., also a Dallas hospice care provider, agreed to acquire VistaCare for $8.60 per share, or approximately $147.1 million. The transaction is expected to close in the first quarter.

It was previously reported that Odyssey's tender offer for VistaCare shares, which began on Jan. 30, is set to expire at midnight ET on Feb. 27.

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