(RTTNews) - Tivity Health (TVTY) announced Tuesday that it has entered into a definitive agreement to be acquired by funds managed by Stone Point Capital for $32.50 in cash per share, representing a total transaction value of $2.0 billion.
Upon completion of the transaction, Tivity Health will become a privately held company, and its common stock will no longer be traded on Nasdaq.
The Board unanimously agreed that the transaction with Stone Point is the best opportunity for maximizing the value of Tivity Health.
The transaction is expected to close in or prior to the third quarter of 2022, subject to the receipt of shareholder approval, regulatory approval and other customary closing conditions.
Richard Ashworth will remain President and Chief Executive Officer of Tivity Health, upon closing of the transaction, and the Company will maintain its headquarters in Franklin, Tennessee and its campus location in Chandler, Arizona.
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