The acquisition of Cross Country Healthcare, Inc. (CCRN) by Aya Healthcare, for a closing value of $615 million. Under the terms of the agreement, Aya will acquire Cross Country for $18.61 per share in cash. (Press Release)

Expected to close in the first half of 2025, for a closing value of $615 million. Under the terms of the agreement, Aya will acquire Cross Country (CCRN) for $18.61 per share in cash.

Press Release, Merger Agreement

Termination Fee: $20 million

Outside Date: September 3, 2025 (might extended to December 3, 2025)

Cross Country Healthcare, Inc. Investor Relations

Aya Healthcare Investor Relations

Update(s):

January 6, 2025: Cross Country (CCRN) filed the preliminary proxy statement for its merger with Aya Healthcare. The company expects the merger to be completed in the first half of 2025. On December 17, 2024, the companies filed a notification of the proposed merger with the FTC and the Antitrust Division under the HSR Act. The waiting period will expire on January 16, 2025.

January 22, 2025: Cross Country Healthcare, Inc. (CCRN) filed the definitive proxy statement for its acquisition by Aya Healthcare. The special meeting of the Cross Country shareholders to approve the transaction is scheduled to be held on February 28, 2025. Aya Healthcare voluntarily withdrew its HSR notification on January 16, 2025 and refiled the same on January 21, 2025, which extended the applicable waiting period under the HSR Act to February 20, 2025. The transaction is expected to be completed by the first half of 2025.

February 21, 2025: Cross Country Healthcare (CCRN) received a request for additional information (Second Request) from the U.S. Federal Trade Commission (FTC) in connection with the FTC’s review of the merger with Aya. The Company now expects that the merger will close in the second half of 2025.

February 28, 2025: Shareholders of Cross Country Healthcare (CCRN) approved the company’s merger with Aya Healthcare at a special meeting of shareholders. Cross Country and Aya Healthcare expect to complete the transaction in the second half of 2025.

September 3, 2025: Cross Country Healthcare (CCRN) announced that the Outside Date for its merger with Aya Healthcare was extended from September 3, 2025, to December 3, 2025. On August 29, 2025, the companies certified to the FTC that they has substantially complied with the Second Request. The merger is expected to close in the fourth quarter of 2025.

November 12, 2025: Cross Country Healthcare (CCRN) announced that the HSR waiting period was set to expire on November 17, 2025. However, the FTC is closed during the government shutdown and the expiry of the HSR waiting period extends day-for-day while the government shutdown continues. As a result, absent any further agreement from the FTC, the HSR waiting period is now set to expire after the end date contemplated by the Merger Agreement, which is currently December 3, 2025. If the transaction has not closed by December 3, 2025, either party may terminate the Merger Agreement. The company and Aya are currently discussing an extension of the end date beyond December 3, 2025, but there can be no assurance that an agreement with respect to an extension will be reached.