Bee In Macquarie’s Bonnet Loses Sting A Macquarie-owned BBC spin-off company in Britain has averted industrial action days before the close of its first strike ballot, as private equity investors come under renewed pressure from unions an... Read Full Article Financial News Web Site Remains Unruffled By Murdoch’s Foray On Its Turf After weathering the dot-com bubble and an attempt to sell the company, TheStreet.com’s slow success has recently jump-started efforts to expand its content and ambitions.... Read Full Article Non-doms: Money Walks Even before he opens his mouth, you can tell Scott Simpson is an American abroad. As he walks out of Canary Wharf Underground his shiny, tasselled loafers tip-tap over the paving stones. His tie... Read Full Article Nymex Abandoning Plans For British Futures Market Nymex Holdings, a lonely champion of open-outcry trading, is cutting its last ties to an ill-fated plan to set up a trading floor in Britain.... Read Full Article Long-Term Rates Rise, And Stocks Fall While the markets shifted to a happier note on Friday, the week was a troubling one for many investors, as stock and bond prices fell sharply and long-term interest rates soared.... Read Full Article |
United Surgical To Be Bought By Equity Firm For $1.8 BillionUnited Surgical Partners International, which runs short-stay surgery centers, has agreed to be bought out by a private equity firm for $1.8 billion, the company said yesterday. United Surgical will be acquired by a unit of Welsh, Carson, Anderson & Stowe, the company’s founding shareholder, for $31.05 a share, a premium of 13.4 percent above its closing price on Friday. Welsh, Carson will also assume certain debt obligations of United Surgical, whose shares rose almost 12 percent in trading yesterday. United Surgical, which is based in Dallas, has stakes in or operates 141 surgery centers in the United States. The centers typically perform specialized outpatient procedures. Such facilities are taking patients away from general-service hospitals, which face steeper costs and generally must care for those without health insurance. United Surgical said the transaction was likely to close in the second quarter. Robert M. Mains, an industry analyst at Ryan Beck, said he saw United Surgical as a special case, given its longstanding relationship with Welsh, Carson; he said he did not expect other surgical companies to become buyout candidates. Welsh, Carson, based in New York, is focused on investments in the health care services, information and business-services industries. United Surgical said it had been advised by JPMorgan Securities and Simpson Thacher & Bartlett. Welsh, Carson had Citigroup Corporate and Investment Banking and Lehman Brothers as advisers and Ropes & Gray as counsel. Stock in United Surgical rose $3.19, to $30.58, a share. Tag CloudExternal InformationAdditional InformationIn Europe, Germany May Have to Take the Wheel in Going Green...Chancellor pledges to pull out stops in stalled trade talks... Wolseley misses targets as US housing bites... Shareholders Approve Merc’s Buyout of CBOT... Where Am I?News Main Page - Business - United Surgical To Be Bought By Equity Firm For $1.8 Billion |
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