Eclipsys (ECLP) Acquired by Allscripts (MDRX) In $1.3 Billion Deal

June 9, 2010 6:50 AM EDT
Allscripts (Nasdaq: MDRX) and Eclipsys (Nasdaq: ECLP) announced a definitive agreement to merge in an all-stock transaction valued at approximately $1.3 billion.

Under terms of the merger agreement, Eclipsys stockholders will receive 1.2 shares of Allscripts for each share of Eclipsys, a 19 percent premium based on the June 8th closing price.

The deal is worth $22.10 per share, based on yesterday's closing price of Allscripts. Eclipsys closed at $18.51 yesterday.

The transaction is expected to be accretive to Allscripts Non-GAAP earnings beginning in calendar 2011. Allscripts anticipates over $100 million in cost savings over the first three full fiscal years after completion of the transaction.

UBS, Barclays Capital and J.P. Morgan acted as financial advisors to Allscripts on the merger, and Blackstone and William Blair acted as financial advisors to the Audit Committee of Allscripts. Perella Weinberg Partners acted as financial advisor to Eclipsys. Credit Suisse acted as financial advisor to Misys.

Sidley Austin LLP and Vedder, Price, Kaufman and Kammholz acted as legal advisors to Allscripts on the merger. King & Spalding LLP acted as legal advisor to Eclipsys. Allen & Overy acted as legal advisor to Misys.

You May Also Be Interested In





Related Categories

Hot List, Mergers and Acquisitions

Related Entities

Credit Suisse, UBS, William Blair, JPMorgan, Barclays, Perella Weinberg