TVTY - Tivity Health to be acquired by Stone Point Capital for $2B

Tivity Health (NASDAQ:TVTY) on Tuesday said it will be acquired by funds managed by Stone Point Capital for $2B. TVTY stockholders will receive $32.50 in cash per share, which represents a 20% premium to the 90-day volume-weighted average price ending Monday. Fully committed debt financing has been obtained and the transaction is not subject to a financing condition. The transaction is expected to close in or prior to Q3, after which TVTY will become a privately held company and its stock will no longer be traded on Nasdaq. Richard Ashworth will remain president and CEO of Tivity and the company will maintain its headquarters in Franklin, Tennessee and its campus location in Chandler, Arizona. "This transaction follows an extensive review of strategic alternatives that the board initiated after receiving Stone Point's unsolicited proposal. The board engaged with numerous potential acquirers with the assistance of outside advisors. The board unanimously agreed

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Tivity Health to be acquired by Stone Point Capital for $2B