Virtual Radiologic (VRAD), NightHawk (NHWK) to Merge in $170M Deal
Virtual Radiologic (Nasdaq: VRAD) and NightHawk Radiology (Nasdaq: NHWK) today announced that they have entered into a definitive agreement under which VRAD will acquire all of the outstanding common stock of NightHawk for $6.50 per share in cash. The offer price represents a premium of 100% over NightHawk's last closing stock price of $3.25 per share. The transaction is valued at approximately $170 million.
Upon the completion of the transaction, Rob Kill will continue to serve as President and CEO of the combined organization.
NightHawk's Board of Directors unanimously approved the agreement and recommends that stockholders vote in favor of the transaction. The transaction is expected to be completed in the first quarter of 2011, subject to customary closing conditions, including the approval of NightHawk's stockholders.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
Upon the completion of the transaction, Rob Kill will continue to serve as President and CEO of the combined organization.
NightHawk's Board of Directors unanimously approved the agreement and recommends that stockholders vote in favor of the transaction. The transaction is expected to be completed in the first quarter of 2011, subject to customary closing conditions, including the approval of NightHawk's stockholders.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
You May Also Be Interested In
- UPDATE: SAP's (SAP) America Unit to Buy Ariba (ARBA) for $45/Share
- KKR (KKR) Said to Be in Talks with Delek Group for Phoenix Holdings Stake
- Rhoen-Klinkum to recommend Fresenius (FMS) takeover offer -Bloomberg
Create E-mail Alert Related Categories
Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
