Shareholders Approve Select Medical's $16.50 Take-Private Deal
SEM sits 42% above its 52-week low of $11.65 on elevated volume (7.2× avg).
Summary
Select Medical stockholders have approved the take-private acquisition by a consortium for $16.50 per share in cash. This critical vote, with over 79% of outstanding shares in favor, significantly de-risks the previously announced merger. The approval follows shareholder lawsuits and supplemental disclosures related to the deal. The company expects the merger to close mid-2026.
At the time of this announcement, SEM was trading at $16.53 on NYSE in the Life Sciences sector, with a market capitalization of approximately $2B. The 52-week trading range was $11.65 to $16.99. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: PR Newswire.