Fitness company Tivity Health said on Tuesday it had agreed to be bought and taken private by investment firm Stone Point Capital for $2bn in cash.
Tivity said its stockholders would receive $32.50 per share, which is a near 1% premium to the stock’s closing price of $32.25 on Monday.
Tivity said it initiated a review of strategic alternatives after receiving an unsolicited proposal from Stone Point and was in discussions with numerous potential buyers, before ultimately deciding to be acquired by the private equity firm.
Lazard was the exclusive financial adviser to Tivity Health while Truist Securities served as exclusive financial adviser to Stone Point on the deal.
Read more: Reuters
