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The Gap Partnership

Blackstone finishes Emdeon business negotiations

A deal has been finalised that will see Blackstone take a controlling stake in Emdeon.

04 August 2011

Blackstone has completed business negotiations with Emdeon in a takeover that is worth $3 billion (£1.8 billion).

It will see the former take a controlling interest in the latter, while shareholders are set to receive $19 per share under the terms of the arrangement.

Approximately 70 per cent of shareholders are in favour already as General Atlantic and Hellman & Friedman are backing the move.

George Lazenby, chief executive officer for Emdeon, noted the resolution represents a "great return for investors".

"We are excited about the opportunity to move forward with two excellent investors in Blackstone and Hellman & Friedman," he added.

Mr Lazenby stated Blackstone - which was set up less than 25 years ago - will be "tremendous partners" as the firm continues to make the healthcare sector more efficient.

He remarked his group is looking to build on its current position as a leader when it comes to healthcare information.

Posted by David Gleck
 

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