Benefytt Technologies, Inc. (NASDAQ: BFYT) (“Benefytt”) (“the Company”), a health insurance technology company and leading distributor of Medicare-related health insurance plans, today announced that it has entered into a definitive agreement to be acquired by funds affiliated with Madison Dearborn Partners, LLC (the “MDP Funds”), a leading private equity firm based in Chicago that has deep experience in the insurance technology and health care industries. The all-cash transaction is structured as a tender offer of $31.00 per share that will commence in the coming days, followed immediately by a merger. The tender offer price per share represents a 59% premium over the 30-day volume-weighted average price per share of Benefytt’s common stock through the close of trading on July 10, 2020. Following completion of the transaction, Benefytt will become a private company, substantially owned by the MDP Funds, and will no longer be traded on Nasdaq Global Select Market.
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Source: https://www.globenewswire.com/news-release/2020/07/13/2061108/0/en/Benefytt-Technologies-Inc-to-be-Acquired-by-Madison-Dearborn-Partners.html