Magellan Health Inc – ‘SC 13E4/A’ on 10/1/96 re: Magellan Health Inc – EX-15.(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-15.(A)   —   Exhibit (A)(15)

EX-15.(A)
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                                                               Exhibit (a)(15)

[LOGO] MAGELLAN HEALTH SERVICES                                                 

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

Contact:  Robert Mead                                                           
(212) 484-6701                                              

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

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

ATLANTA, GA, SEPTEMBER 19, 1996 - Magellan Health Services, Inc. (ASE: MGL)     
announced today that a "preliminary count" by First Union National Bank of      
North Carolina, the Depository for the Company's "Dutch Auction" self-tender    
offer indicates that, subject to final verification, approximately 3,960,000    
shares of Common Stock have been tendered and accepted for purchase at a price  
of $18.375 per share. Shares in excess of the limits of the tender offer will   
be promptly returned. Shares tendered at or below the price the Company is      
paying exceeded the number of shares being purchased by approximately 1,000,    
and to that extent, there may be a proration.                                   

The self-tender offer commenced on August 15 and expired at 12:00 midnight      
eastern standard time on September 18, 1996. Prior to the tender offer,         
Magellan had 33,022,826 shares of Common Stock outstanding. Following the       
purchase of shares tendered in the "Dutch Auction," Magellan will have          
approximately 29,042,000 shares of Common Stock outstanding. Payment for        
shares properly tendered and accepted will be made promptly subject to          
proper delivery of shares in accordance with the terms of the offer. Dean       
Witter Reynolds, Inc. acted as the Dealer Manager for the tender offer.         

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.           

3414 Peachtree Road, NE - Suite 1400 - Atlanta, GA 30326 -                
(404) 341-9200 - Fax: (404) 314-5793            

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘SC 13E4/A’ Filing		Date		Other Filings
Filed on:		10/1/96
		9/19/96
		9/18/96		SC 13E4/A
				List all Filings