Colorado-based air ambulance company Air Methods Corp. -- long under pressure from a activist shareholder -- is being purchased in a $2.5 billion deal.
The Centennial Airport-based company (NYSE: AIRM) said New York-based private equity firm American Securities LLC has offered $43 per share for the company, slightly above Air Methods' Monday closing price of $41.40. The deal includes acquiring Air Methods' net debt.
The new owners will take the company private when the deal closes in the second quarter. The deal is subject to shareholder action.
“We are pleased to have reached this agreement, which will deliver certain and immediate cash value and a compelling premium to our stock price prior to press speculation for our shareholders,” Air Methods Chairman C. David Kikumoto said in today's announcement of the deal.
Read more at the Denver Business Journal: http://bit.ly/2lXgKMe