Magellan Health Inc – ‘SC 13E4/A’ on 10/1/96 re: Magellan Health Inc – EX-16.(A)

As of:  Tuesday, 10/1/96   ·   Accession #:  912057-96-21709   ·   File #:  5-05938

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Amendment to Tender-Offer Statement — Issuer Tender Offer   —   Schedule 13E-4
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13E4/A   Amendment to Tender-Offer Statement -- Issuer          8     47K 
                          Tender Offer                                           
 2: EX-15.(A)   Exhibit (A)(15)                                        1      7K 
 3: EX-16.(A)   Letter re: Change in Certifying Accountant             1      7K 

EX-16.(A)   —   Letter re: Change in Certifying Accountant

EX-16.(A)
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MAGELLAN HEALTH SERVICES                                                    NEWS

AN INTERNATIONAL BEHAVIORAL HEALTHCARE COMPANY/3414 PEACHTREE RD., N.E.,        
ATLANTA, GEORGIA 30326                                                          

FOR IMMEDIATE RELEASE                                                           
---------------------                                                           

Contact:      Robert Mead                                                       
(212) 484-6701                                      

MAGELLAN HEALTH SERVICES ANNOUNCES FINAL RESULTS OF   
DUTCH AUCTION SELF-TENDER OFFER   

--------------------------------------------------------------------------------

ATLANTA, GA, OCTOBER 1, 1996 -- Magellan Health Services, Inc. (ASE: MGL)       
announced today that in accordance with the final results of its "Dutch         
Auction" self-tender offer, completed at 12:00 Midnight Eastern Standard        
Time, on September 18, 1996, the Company will purchase 3,961,505 shares of      
its Common Stock at a price of $18.375 per share, which represents all shares   
tendered at that price.                                                         

First Union National Bank of North Carolina, the depository for the offer,      
will promptly issue payment for the shares accepted under the offer and         
return all shares not accepted.                                                 

The shares purchased represent approximately 12% of the 33,002,826 shares of    
Common Stock outstanding immediately prior to the offer.                        

After purchasing the shares, the Company has approximately 29 million shares    
of Common Stock outstanding.                                                    

Magellan Health Services, Inc., a Fortune 1000 company, is the country's        
largest integrated behavioral healthcare company. Its three business units      
include: Charter Behavioral Health Systems, the nation's largest and most       
comprehensive behavioral healthcare delivery system, with nearly 100            
facilities providing a broad continuum of inpatient and outpatient care;        
majority-owned Green Spring Health Services, a leader in behavioral managed     
care services; and Magellan Public Solutions, serving the public sector with    
privatized behavioral health services.                                          

* * *   

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘SC 13E4/A’ Filing		Date		Other Filings
Filed on:		10/1/96
		9/18/96		SC 13E4/A
				List all Filings