LifePoint Health Inc. (NASDAQ: LPNT) shares made a solid gain on to start off the week after it was announced that the private equity firm Apollo Global Management LLC (NYSE: APO) would be acquiring it. According to the deal, Apollo is spending $5.6 billion for the hospital chain.
In terms of the breakdown, LifePoint shareholders will receive about $65 in cash for each share. Upon completion of the transaction, the combined company will be privately held, operate under the LifePoint Health name and be led by William F. Carpenter III, board chair and chief executive officer of LifePoint.
The transaction is expected to be completed over the course of the next several months, subject to customary closing conditions, including approval by LifePoint’s shareholders and receipt of applicable regulatory approvals.
Carpenter, commented
LifePoint and RCCH are aligned in our missions and commitment to ensuring that non-urban communities across the country have access to quality care, close to home. Together, we can extend this shared focus while generating new opportunities for growth and partnerships that will help us navigate the changing healthcare industry dynamics. I am eager to work with the outstanding teams at LifePoint and RCCH as we continue advancing high quality patient care and Making Communities Healthier.
Shares of LifePoint were last seen up about 34% at $64.07, with a consensus analyst price target of $52.78 and a 52-week range of $41.45 to $66.00.
Shares of Apollo were last seen at $35.48, with a consensus analyst price target of $39.32 and a 52-week range of $27.33 to $37.35.
24/7 Wall St.Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
