Blum Group Cuts Stake in Apria Healthcare
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A group including Richard C. Blum & Associates Inc. has reduced its stake in Apria Healthcare Group Inc., the Costa Mesa provider of home health care, to 6.2%.
In a filing Tuesday with the Securities and Exchange Commission, the group said it sold 2.2 million common shares of Apria between April 1 and April 16 at prices ranging from $11.97 to $13.54 a share.
The Blum group, which currently holds 3.23 million Apria shares, also reported that it has agreed to sell 3.23 million common shares to Relational Investors LLC, the investment group led by Apria Chairman Ralph Whitworth. Relational, Apria’s largest shareholder, is paying $13 a share.
Apria shares rose 81 cents Wednesday, to $14.44, in New York Stock Exchange trading.
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