Towerbrook, CD&R compete acquisition of R1 RCM

R1 RCM (RCM) announced that investment funds affiliated with TowerBrook Capital Partners and Clayton, Dubilier & Rice have completed their previously announced acquisition of R1. On August 1, 2024, TowerBrook, CD&R and R1 announced that they had entered into a definitive merger agreement under which all outstanding shares of R1 common stock that TowerBrook did not own would be acquired for $14.30 per share in cash, valuing R1 at approximately $8.9 billion. With the completion of the transaction, R1’s common stock has ceased trading and will no longer be listed on Nasdaq. R1 also intends to make the applicable filings with the U.S. Securities and Exchange Commission to suspend its periodic reporting obligations. In connection with the closing of the transaction, Joe Flanagan became Chief Executive Officer of R1