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LONG BEACH, Calif. (AP) -- Managed care organization Molina Healthcare Inc. on Friday raised the amount of a senior notes offering by $25 million to $175 million. The company also granted the underwriters, Citi and UBS Investment Bank, an overallotment option to purchase up to $25 million of additional 3.75 percent convertible senior notes due 2014. Molina Healthcare intends to use the proceeds to repay debt, to fund its pending acquisition of Mercy CarePlus in Missouri, and for other matters. The sale is expected to close on Thursday.
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