Air Methods Agrees To Be Bought By American Securities In a Deal Valuing The Company At $1.6 Bln
Air Methods Corp. said Tuesday it has agreed to to be bought out by American Securities LLC, in a deal with a total enterprise value of about $2.5 billion, including debt. Under terms of the deal, American Securities will pay $43 in cash for each Air Methods share outstanding, which is 3.9% above Monday's closing price of $41.40. At the buyout bid price, the air medical transport provider would have a market capitalization of about $1.57 billion, according to FactSet data. The deal is expected to close by the end of the end of June. Air Method's stock is currently halted for news, and is set to resume trade at 9:00 a.m. ET. It had run up 30% year to date through Monday, while the S&P 500 had gained 6%.
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