TeamHealth Rejects Unsolicited Proposal From AmSurg
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October 21, 2015 8:53 AM EDT
Jefferies reiterated a Buy rating and $80.00 price target on Team Health (NYSE: TMH) following AmSurg Corp's (NASDAQ: AMSG) unsolicited offer to acquire the company for $11.49 of cash and 0.768 AMSG shares, which values Team Health right under $70/share as of... More
October 20, 2015 11:20 AM EDT
TeamHealth Holdings (NYSE: TMH) today confirmed that it has received an unsolicited proposal from AmSurg Corp. (Nasdaq: AMSG) to combine in a stock-and-cash merger at a fixed exchange ratio of 0.768x AmSurg shares per TeamHealth share. Under the AmSurg proposal, TeamHealth shareholders would also receive cash consideration of $11.49 per share.
TeamHealth stated that this is the same proposal that its Board of Directors previously reviewed, considered and rejected as not in the best interest of TeamHealth and its stockholders. This conclusion was reached with the assistance of... More
