By James McNair
Enquirer staff writer

With investors apparently awaiting the outcome of a federal antitrust review, Omnicare has again extended its tender offer for the shares of rival NeighborCare, this time until Sept. 30.

Omnicare, a Covington-based provider of drugs and pharmacy services to nursing homes, began its $30-a-share offer for NeighborCare on June 4 and has extended the deadline twice. On Wednesday, it said about 47 percent of NeighborCare's shares were tendered by Tuesday's 5 p.m. expiration date, up from 46 percent on the July 30 deadline.

Interest in NeighborCare shares warmed up Wednesday, as the company's share price rose 56 cents, or 2.2 percent, to $25.95. Omnicare slipped 7 cents to close at $28.87.

Analysts and industry observers say NeighborCare shareholders are waiting for the Federal Trade Commission to complete its antitrust review of the proposed merger before making up their minds about the tender offer.

Omnicare controls about one-third of the $7 billion institutional care pharmacy market and would like to acquire NeighborCare to help firm up the prices it gets for drugs. But when the FTC asked Omnicare for more information on July 13, the move was interpreted as a signal that the agency is concerned that the merger could dampen competition.

E-mail jmcnair@enquirer.com