Tag: Acquire

Molina Healthcare to Acquire Affinity Health Plan

LONG BEACH, Calif.–(BUSINESS WIRE)–Molina Healthcare, Inc. (NYSE: MOH) (“Molina”) announced today that it has entered into a definitive agreement to acquire substantially all of the assets of Affinity Health Plan (“Affinity”). The purchase price for the transaction is approximately $380 million, net of expected tax benefits and inclusive of an amount representing Molina’s target allocation of required regulatory capital. Molina intends to fund the purchase with cash on hand.

Affinity is a Medicaid managed care organization serving members in New York City, Westchester, Orange, Nassau, Suffolk, and Rockland counties in New York. It has a 35 year history of supporting Medicaid managed care populations and has long demonstrated a deep commitment to the communities it serves. As of August 31, 2020, Affinity served approximately 284,000 Medicaid members. Affinity’s premium revenue for the trailing twelve months ended July 31, 2020, was approximately $1.3 billion.

“The addition of Affinity is

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Cowen to Acquire Investment Banking Business of MHT Partners, Further Deepening Coverage of Middle-Market and Private Equity Investors

The MarketWatch News Department was not involved in the creation of this content.

NEW YORK, Sep 15, 2020 (GLOBE NEWSWIRE via COMTEX) —
Cowen Inc. (NASDAQ: COWN) (“Cowen” or the “Company”) today announced that it has signed a definitive agreement to acquire substantially all of the assets of MHT Partners, LP (“MHT Partners”), an investment bank focused on representing innovative companies in growing markets. Based primarily in Dallas and San Francisco, MHT Partners’ investment banking team is expected to join Cowen under the agreement. Terms of the acquisition, which is not material to Cowen from a financial perspective, were not disclosed.

“Cowen’s momentum in investment banking reflects our commitment to serving the dynamic companies that fuel the global economy. Accelerating that strategy, we welcome MHT Partners’ impressive banking team to the Cowen platform,” said Larry Wieseneck, Co-President of Cowen and Company. “The MHT team provides deep industry knowledge and relationships,

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B2Digital Signs Agreement to Acquire Two Premier Fitness Facilities to Expand Official B2 Training Facilities Network

Tampa, FL, Sept. 17, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — B2Digital Incorporated (the “Company” or “B2Digital”) (OTCMKTS:BTDG), the premier development league for mixed martial arts (“MMA”), is excited to announce that the Company has signed an agreement to acquire two additional premier fitness facilities in Merrillville and Valparaiso, Indiana. 

“We are looking forward to expanding our B2 Training Facilities Network to these two new locations,” noted Greg P. Bell, Chairman & CEO of B2Digital. “They will allow us to capitalize on our existing relationships with the local MMA gyms and effectively double our paying customer base overnight for our ONE More Gym business. These two new fitness facilities fit perfectly within our strategic roadmap to continue expanding our capability to develop future MMA stars. We plan on duplicating our existing ONE More Gym business model – that we perfected in our first location – into these two new facilities.

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51job, Inc. Announces Receipt of a Preliminary Non-Binding Proposal to Acquire the Company

SHANGHAI, Sept. 17, 2020 /PRNewswire/ — 51job, Inc. (Nasdaq: JOBS) (“51job” or the “Company”), a leading provider of integrated human resource services in China, announced today that its Board of Directors (the “Board”) has received a preliminary non-binding proposal letter dated September 17, 2020 (the “Proposal Letter”) from DCP Capital Partners, L.P. (the “Proposing Buyer”) to acquire all of the outstanding common shares of the Company for US$79.05 in cash per common share (the “Proposed Transaction”). A copy of the Proposal Letter is attached hereto as Exhibit A.

According to the Proposal Letter, the Proposing Buyer intends to fund the consideration payable in the Proposed Transaction with equity capital from the Proposing Buyer and debt financing.

The Board plans to evaluate the Proposed Transaction. The Board cautions the Company’s shareholders and others considering trading the Company’s securities that the Board has just received the Proposal

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Oracle Won’t Acquire TikTok as Part of ByteDance’s Proposal. What to Know About the Deal.

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A TikTok office in Culver City, Calif.


Mario Tama/Getty Images


Oracle

on Monday confirmed that it is part of a proposal submitted by ByteDance to the Treasury Department in which the U.S. database software company will “serve as the trusted technology provider” for the China-based parent of the popular video service TikTok. Under the proposal, it does not appear that Oracle—or anyone else—will acquire TikTok’s U.S. business.

The Trump administration recently threatened to shut down TikTok’s U.S. operations unless they were acquired by an American buyer.

Microsoft

(ticker: MSFT), which had widely been considered the leading candidate to acquire TikTok’s U.S. unit, said Sunday that ByteDance had turned down its offer to buy TikTok’s U.S. operations. Instead, it appears ByteDance has come up with an alternative plan that will allow it to maintain control of the business while addressing U.S. security concerns.

In an interview with CNBC on

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Marietta Couple Acquire DIY Studio; Business ‘Steadily Better’

MARIETTA, GA — It’s a common phrase to hear entrepreneurs speak on taking the “leap,” a crucial move in launching any business. Imagine, though, starting that venture right at the beginning of the coronavirus pandemic.

That’s exactly what happened to one husband and wife duo who purchased a DIY art studio in early March in Marietta, located at 3960 Mary Eliza Trace. Michelle and Steve Gormally became the new owners of Project Studio, which was created in 2016.

“We knew the coronavirus was present, we knew there were a couple of cases in the U.S., but we had no idea we were going to have to shut down,” Michelle told Patch in an interview.

“Going into the pandemic, you have no idea how bad it’s going to get, you just kind of have to go for it,” Steve said.

They told themselves that “even if we don’t see the fruit

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Nova Leap Health Corp. Announces Execution of Definitive Agreement to Acquire Home Care Business in South Central U.S.

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HALIFAX, Nova Scotia, Sept. 08, 2020 (GLOBE NEWSWIRE) — NOVA LEAP HEALTH CORP. (TSXV: NLH) (“Nova Leap” or “the Company”), a 2019 TSX Venture 50™ ranked company focused on the home health care industry, is pleased to announce that it has executed a definitive agreement (the “Agreement”), dated September 4, 2020, to acquire a home care services company (“the Target”) located in the South Central region of the United States. The Target reported unaudited revenues of approximately $1.032 million and EBITDA of approximately $66,000 for the year ended December 31, 2019. All amounts are in United States Dollars (“USD”) unless otherwise specified.

Under the terms of the Agreement, the acquisition is to be made for total consideration of $250,000 of which $200,000 is payable with cash on closing and $50,000 is by way of a promissory

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Empower Retirement to Acquire Retirement Plan Business of MassMutual

Combines talent and expertise in key growth areas to provide customer service focus, technological excellence, deep product capabilities

Expands firm’s capabilities across retirement services market to more than 12.2 million individuals and 67,000 retirement plans

Empower Retirement and Massachusetts Mutual Life Insurance Company (MassMutual) today announced that they have entered into a definitive agreement for Empower to acquire the MassMutual retirement plan business. The acquisition will capitalize on both firms’ expertise, provide technological excellence and deep product capabilities, and create scale to the benefit of retirement plan participants and their employers.

Based on the terms of the agreement and subject to regulatory approvals, Empower will acquire the retirement plan business of MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. In addition, the balance sheet of the transferred business would be supported by $1 billion of required capital when combined with Empower’s existing U.S. business.

The MassMutual

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MassMutual enters into definitive agreement for Empower Retirement to acquire its retirement plan business

MassMutual announced on Tuesday that its retirement plan business is being acquired by Colorado-based Empower Retirement.

Based on the terms of the definitive agreement and subject to regulatory approvals, Empower will acquire the retirement plan business of MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. In addition, the balance sheet of the transferred business would be supported by $1 billion of required capital when combined with Empower’s existing U.S. business.

In a joint statement the companies said the acquisition will capitalize on both firms’ expertise, provide technological excellence and deep product capabilities, and create scale to the benefit of retirement plan participants and their employers.

“In Empower, we are pleased to have found a strong, long-term home for MassMutual’s retirement plan business, and believe this transaction will greatly benefit our policy owners and customers as we invest in our future growth and accelerate progress on our

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FBL Financial Group Announces Receipt of Proposal to Acquire Public Minority Stake

FBL Financial Group, Inc. (NYSE: FFG) (the “Company”) announces today that it has received a non-binding proposal dated September 4, 2020 (the “Proposal”) from Farm Bureau Property & Casualty Insurance Company (“FBPCIC”) to acquire all of the outstanding shares of Class A common stock and Class B common stock of the Company that are not currently owned by FBPCIC or the Iowa Farm Bureau Federation at a purchase price of $47.00 per share in cash. The Iowa Farm Bureau Federation owns approximately 60% of the Company’s Class A common stock and approximately 67% of the Company’s Class B common stock.

The Proposal is subject to certain conditions. A copy of the Proposal is included as Appendix A to this news release.

The Company cautions its shareholders and others considering trading in the Company’s securities that the Company only recently received the Proposal and that the Company’s Board of Directors has

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