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Envision to Sell to KKR for $9.9 Billion

We represented Envision Healthcare Corporation (NYSE: EVHC) in its definitive agreement to sell to KKR in an all-cash transaction for $9.9 billion, including debt. KKR will pay $46 per Envision share in cash to buy the company, marking a 32 percent premium to the company's volume-weighted average share price from November 1, when Envision announced it was considering its options. The transaction is expected to close the fourth quarter of 2018. Read more


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Six Things to Know Before Buying a Physician Practice spotlight

Dermatology, ophthalmology, radiology, urology…the list goes on. Yet, in any physician practice management transaction, there are six key considerations that apply and, if not carefully managed, can derail a transaction. Download the 6 Things to Know Before Buying a Physician Practice to keep your physician practice management transactions on track.

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FTC Announces Revised HSR Thresholds for 2011

Publications

January 27, 2011

The Federal Trade Commission has announced revised threshold amounts for premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act ("HSR Act"). Under the HSR Act, when a deal meets the "size of person" and "size of transaction" thresholds, and no exemption applies, the deal must be reported to the antitrust agencies and the parties must wait for a designated period of time before closing the transaction. The revised thresholds will take effect 30 days after publication in the Federal Register which we anticipate will occur in the next two weeks.

The revised thresholds are:

Size-of-Transaction Test: The $50 million (as adjusted) threshold used in the size-of-transaction test will increase from $66.0 million to $68.2 million.

Size-of-Persons Test: The $10 million (as adjusted) and $100 million (as adjusted) sales and assets thresholds used in the size-of-persons test will increase from $13.2 million to $13.6 million and from $126.9 million to $136.4 million, respectively. The $200 million (as adjusted) threshold, below which the size-of-persons test applies, will increase from $263.8 million to $272.8 million.

Greater Notification Thresholds: These thresholds, which apply to acquisitions of voting securities made within five years after expiration or termination of the waiting period from a previous HSR filing for an acquisition of voting securities from the same issuer, were revised as follows:

Previous Threshold
Revised Threshold
$131.9 million $136.4 million
$659.5 million $682.1 million
25% of voting securities if valued at greater than $1,319.0 million
25% of voting securities if valued at greater than $1,364.1 million
50% of voting securities if valued at greater than $66.0 million
50% of voting securities if valued at greater than $68.2 million
 
Filing Fees: Filing fee thresholds based upon the value of assets or voting securities being acquired will be revised as follows:
 
Value of Transaction  Filing Fee
$68.2 million to $136.4 million

(previously $66 million to $131.9 million)
$45,000
$136.4 million to $682.1 million

(previously $131.9 million to $659.5 million)
$125,000
$682.1 million or more

(previously $659.5 million or more)
$280,000

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