Cross Country Healthcare (CCRN) and Aya Healthcare said Wednesday they signed an agreement under which Aya will acquire Cross Country Healthcare for $18.61 per share in cash for roughly $615 million in transaction value.
The transaction, expected to be completed in H1 next year, has been unanimously approved by Cross Country's board and is not subject to a financing condition, the companies said. Upon completion, Cross Country will become a private company and will no longer trade on the Nasdaq, the parties said.
Cross Country President and Chief Executive John Martins will continue to head the company after the transaction is completed, the parties added.
Shares of Cross Country rose nearly 63% in recent Wednesday premarket activity.
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