Bon Secours reportedly nears $6 billion takeover of Bain-backed Surgery Partners
SGRY•Bon Secours Mercy Health is in late-stage talks to buy a majority stake in Surgery Partners in a deal that would value the company at roughly $6 billion including debt, the report said. The deal could value shares at about $20 each.
1. Late-stage talks
Bon Secours Mercy Health is in late-stage talks to buy a majority stake in Surgery Partners, a short-stay surgery operator, the report said. The potential deal could be announced as early as Monday and would value the company at roughly $6 billion including debt, or about $20 a share, citing people familiar with the matter.
2. Bain to retain stake
Bain Capital, Surgery Partners' largest shareholder, will retain its almost 40% shareholding as part of the potential take-private deal, the report added. The reported $20-a-share value represents a 25.8% premium to Surgery Partners' last close of $15.90. Surgery Partners rejected a Bain Capital take-private offer in June last year, saying it could not agree to the terms.
