Summary Box: Emergency Medical Services Sale
THE DEAL: Emergency Medical Services Corp., which transports patients to hospitals and runs a physician outsourcing business, agreed Monday to sell itself to private equity firm Clayton, Dubilier & Rice for $64 per share, or about $3.2 billion.
ANTICIPATION: The Greenwood Village, Colo., company said in December that it would consider strategic alternatives. Its shares were trading around $54 at the time, but climbed to more than $70 last week.
A BARGAIN?: The deal is likely to go through despite the discount. EMS said Onex Corp. supports the deal, and Onex controls enough of its shares to approve the sale.