InsideArbitrage Potential Deal Alert: R1 RCM (RCM) Approached by New Mountain Capital for $13.75 per share in cash

POTENTIAL DEAL DETAILS

According to 13D-A filing, New Mountain Capital, which owns more than 32% stake in R1 RCM (RCM), offered to buy the company for $13.75 per share in cash.

R1 RCM Investor Relations

Update(s):

February 26, 2024: Coliseum Capital Management, one of the largest shareholders of R1 RCM believes the offer by New Mountain Capital to acquire the company for a cash consideration of $13.75 per share significantly undervalues the company.

March 11, 2024: R1 RCM Inc. (RCM) announced the formation of a special committee comprised solely of independent directors to evaluate strategic alternatives in response to the Schedule 13D/A filed by New Mountain Capital on February 26, 2024.

March 19, 2024: R1 RCM (RCM) said any talks between New Mountain Capital and TCP-ASC about a potential RCM transaction must cease.

April 29, 2024: According to the filing, New Mountain Capital, a 32% shareholder in R1 RCM (RCM), confirmed its interest in jointly pursuing a takeover with TowerBrook, which holds a 36% stake.

May 7, 2024: According to a filing, R1 RCM (RCM) grants a waiver to holder TCP-ASC so that it can join with New Mountain Capital for a takeover bid.

June 12, 2024: TCP-ASC and New Mountain Capital submitted a request to R1 RCM (RCM) to extend the deadline to continue discussions for a potential transaction through July 12, 2024, and such request has been granted.

July 1, 2024: R1 RCM (RCM) announced that New Mountain Capital is no longer interested in pursuing a joint proposal with TCP-ASC. New Mountain Capital wants to take R1 RCM private and has asked the board to allow them to propose buying all outstanding shares for $13.25 each. New Mountain is open to involving TowerBrook Capital Partners and Ascension Health in the deal as equity co-investors.

July 5, 2024: R1 RCM (RCM) announced that TCP-ASC is in the process of finalizing a proposal to buy all the remaining shares of common stock that it doesn’t already own in R1 RCM.

July 18, 2024: According to Bloomberg, TowerBrook Capital Partners and Clayton, Dubilier & Rice are in talks to team up and launch a rival takeover bid for healthcare IT provider R1 RCM (RCM). The private equity firms are discussing financing options for a potential offer.

July 24, 2024: The Special Committee of the R1 RCM (RCM) announced it has set a final deadline for interested parties to submit fully financed bids on July 31, 2024, in connection with its review process.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.