Global asset manager Blackstone acquired TeamHealth in a multi-billion dollar transaction.
Here are eight things to know:
1. Blackstone will pay $6.1 billion for TeamHealth, a physician services organization. The company is making the acquisition along with a team of co-investors.
2. TeamHealth's board of directors unanimously approved the transaction. The company plans to hold a special stockholder's meeting to vote on the proposed merger and merger agreement.
3. Blackstone and the co-investors will pay $43.50 per share for TeamHealth in cash. This is a premium of around 33 percent over TeamHealth's closing share price on Oct. 3, 2016, which was the last trading day before it was reported TeamHealth was considering a possible sale.
4. JANA Partners agreed to vote its beneficially owned shares, around 8 percent of the outstanding shares of TeamHealth's common stock, in favor of the transaction.
5. There will be a "go-shop" period in which TeamHealth and its board of directors can actively solicit, receive and evaluate as well as potentially negotiate with parties that offer alternative proposals for a 40-day period after entering into the definitive agreement.
6. The transaction is expected to close in the first quarter of 2017, after which TeamHealth will become a privately held company and wholly owned by funds affiliated with Blackstone. As a result, the company will no longer list on the New York Stock Exchange.
7. TeamHealth's lead financial advisor is Goldman, Sachs & Co. and co-financial advisor is Citi. TeamHealth's acting legal counsel is Simpson, Thatcher & Bartlett. Blackstone's acting advisor is BofA Merrill Lynch and the acting legal counsel is Kirkland & Ellis and Ropes & Gray.
8. Blackstone is a prior owner of TeamHealth.