BFYT - Why Benefytt Technologies Is Going Private and What to Do With the Stock
Benefytt Technologies (NASDAQ: BFYT) is an online insurance platform where consumers can shop for health insurance. The company announced in mid-July that it will be acquired by private equity firm Madison Dearborn Partners in an all-cash take-private transaction valued at $31 per share.
The company's stock price is considerably lower than it was two years ago -- is this a good time to sell?
In July, Benefytt announced a private equity-backed take-private deal. Take-private buyouts, also known as leveraged buyouts (LBO), are financial transactions where a private equity buyer -- in this case, Madison Dearborn -- acquires a company at an attractive price or a company it believes it can improve in the private market.