Coliseum Capital Issues Open Letter To Board Of R1 RCM On Offer By New Mountain To Acquire The Company For $13.75 Per Share; Believes Offer Significantly Undervalues R1 RCM
Portfolio Pulse from Benzinga Newsdesk
Coliseum Capital, a major shareholder of R1 RCM Inc. (NASDAQ:RCM), has issued an open letter to R1 RCM's Board, stating that New Mountain Capital's $13.75 per share acquisition offer undervalues the company. Coliseum supports the current Board, management, and strategy, urging the Board to seek a higher offer or remain public.
February 26, 2024 | 8:57 pm
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Coliseum Capital's open letter may influence R1 RCM Inc.'s Board to reject New Mountain Capital's acquisition offer, potentially affecting the stock's short-term price.
Coliseum Capital's stance as a major shareholder and its push for a higher offer or remaining public could lead to increased investor confidence in R1 RCM's value, potentially driving up the stock price in the short term. The firm's support for the current management and strategy also signals a positive outlook on the company's future, further influencing investor sentiment.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100