American Dental Partners Announces Acquisition By JLL Partners for $19 Per Share
American Dental Partners, Inc. (Nasdaq:ADPI - News) today announced that it has entered into a definitive agreement to be acquired by funds affiliated with JLL Partners, Inc. ("JLL"), a leading private equity firm, that provides for holders of the Company's outstanding common shares to receive $19.00 per share in cash. The price represents a premium of 83% to the closing price of the common shares as of November 4, 2011. The transaction is valued at approximately $398 million, including $81 million in currently outstanding debt.
A special committee of the Company's board of directors, composed of six independent directors, negotiated the transaction and recommended it to the full board.
- Published: 07 November 2011
- Written by Editor