Cases
Team Health Holdings, Inc. (NYSE : TMH)
Merger
Overview
Overview
- Date:
- 12/7/2016
- Company Name:
- Team Health Holdings, Inc.
- Stock Symbol:
- TMH
- Company Name - Buyer:
- Blackstone
- Class Period:
- FROM 12/2/2016
- Status:
- Closed/Complete
- Merger Announcement Date:
- 10/31/2016
- Court:
- U.S. District Court: District of Eastern Tennessee
NEW YORK, December 7, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Tennessee Eastern District Court on behalf of all persons or entities who held Team Health Holdings, Inc. (NYSE: TMH) securities on December 2, 2016 (the “Class Period”).
On October 31, 2016, the two parties announced the signing of a definitive merger agreement pursuant to which Blackstone will acquire Team Health in a merger in a deal worth $6.1 billion. As a result of the merger, Team Health shareholders are only anticipated to receive $43.50 per share in cash in exchange for each share of Team Health.
While the Company claims that shareholders will receive a premium for their shares, the deal consideration is significantly less than the $61.00 price target set by an analyst at RBC Capital Markets on August 4, 2016 as well as the $52.00 target price set by an analyst at Canaccord Genuity on August 3, 2016. The $43.50 per share consideration is also below Team Health’s June 23, 2016 closing price of $44.65 per share.
If you held Team Health securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On October 31, 2016, the two parties announced the signing of a definitive merger agreement pursuant to which Blackstone will acquire Team Health in a merger in a deal worth $6.1 billion. As a result of the merger, Team Health shareholders are only anticipated to receive $43.50 per share in cash in exchange for each share of Team Health.
While the Company claims that shareholders will receive a premium for their shares, the deal consideration is significantly less than the $61.00 price target set by an analyst at RBC Capital Markets on August 4, 2016 as well as the $52.00 target price set by an analyst at Canaccord Genuity on August 3, 2016. The $43.50 per share consideration is also below Team Health’s June 23, 2016 closing price of $44.65 per share.
If you held Team Health securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.