Ex-Louisiana AG launches investigation into sale of LifePoint

Charles Foti Jr., former attorney general of Louisiana, and his law firm are investigating the proposed sale of Brentwood, Tenn.-based LifePoint Health to Brentwood-based RCCH HealthCare Partners, which is owned by Apollo Global Management.

Under the proposed transaction, LifePoint shareholders will receive $65 per share in cash for each share of LifePoint they own. Mr. Foti and his law firm are seeking to determine whether $65 per share is adequate or if that amount undervalues LifePoint. They are also examining whether the process used to determine the share buyout price was adequate.

The proposed deal was announced July 23, and the $65 shareholders will get for each share owned is an about 36 percent premium to LifePoint's closing price of $47.90 July 20, according to The Wall Street Journal.

The proposed deal needs approval from regulators and LifePoint shareholders.

More articles on legal and regulatory issues:

12 latest lawsuits involving hospitals
Ex-drug company executive gets 15 years in prison for $50M pill distribution plot
Congress considers 340B changes  

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Articles We Think You'll Like

 

Featured Whitepapers

Featured Webinars