SXC Health (SXCI) To Acquire National Medical Health Card (NMHC) In Cash/Stock Deal Worth $11/Sh
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- SXC Health (SXCI) To Acquire National Medical Health Card (NMHC) In Cash/Stock Deal Worth $11/Sh
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SXC Health Solutions Corp. (NASDAQ: SXCI) and National Medical Health Card Systems, Inc. (NASDAQ: NMHC) entered into a definitive agreement for SXC to acquire NMHC pursuant to an exchange offer. The purchase price will be funded with a combination of 70% cash and 30% SXC stock, resulting in a transaction value of approximately $143 million, or an estimated $11.00 per share of NMHC using the 20-day average closing price of SXC stock to value the share portion of the consideration.
National Medical Health Card closed at $9.85 yesterday.
The acquisition is expected to close in the second quarter of 2008.
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