Benefytt Technologies (NASDAQ:BFYT) to be acquired by funds affiliated with Madison Dearborn Partners in all-cash transaction.
The offer price of $31/share represents a 59% premium over the 30-day volume-weighted average price per share of common stock through the close of trading on July 10, 2020
Following the successful tender of at least a majority of the then outstanding common shares, the MDP Funds will acquire any remaining outstanding shares through a merger at a per share price equal to the tender offer price.
Following completion of the transaction, Benefytt will become a private company, substantially owned by the MDP Funds, and will no longer be traded on Nasdaq.
The closing of the acquisition is expected in Q3
Source: Press Release
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