Financing
Symbion, Inc. Agrees to Be Acquired by Crestview Partners Affiliate for $22.35 Per Share in Cash
Published in Surgery Litigation and Law Weekly, May 11th, 2007
Symbion, Inc. (NASDAQ:SMBI), an owner and operator of short stay surgical facilities, announced that it has entered into a merger agreement with a newly formed subsidiary of Crestview Partners, L.P., a New York-based private equity firm. Under the terms of the merger agreement, holders of Symbion common stock will receive $22.35 per share in cash for their shares. This price represents a 17.4% premium to the closing price on April 23, 2007. The transaction is valued at approximately $637 million, including the assumption of certain debt obligations.
Symbion's Board of Directors approved the transaction following the unanimous recommendation of a Special Committee of...
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