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COSTA MESA, CA-Assisted Living Inc. says it has received two unsolicited buyout letters, both proposing alternative deals from a proposal already on the table from Prometheus Assisted Living L.L.C., an affiliate of Lazard Freres & Co.

Both potential bidders are proposing transactions that “could be more favorable to ARV’s stockholders,” the company says, although no firm offers have been received from either of the two. It did not name the two suitors, saying it has entered into standard confidentiality agreements to permit the potential bidders to conduct further due diligence.

In September, ARV received an unsolicited letter from Prometheus proposing to acquire all of the outstanding shares of common stock for cash, at a price in the range of $3.25 to $3.60 per share. Prometheus currently owns approximately 43.5% of the outstanding shares of ARV and owns warrants which, if exercised, would result in ownership of approximately 47.8% percent of the outstanding shares of the assisted living company.

Founded in 1980, ARV is one of the largest operators of assisted living communities in the nation, currently operating 59 communities containing approximately 7,000 units in 11 states.

In noontime trading Tuesday, ARV’s stock stood at $3.50, up 28 cents for the day and 10 cents below its 52-week high of $3.60, achieved today.

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