Select Medical to Go Private in $2.05 Billion All-Cash Acquisition at $16.50 Per Share
Summary
Select Medical Holdings Corp. is being acquired and taken private for $16.50 per share in an all-cash transaction valued at $2.05 billion, leading to its delisting from the NYSE.
Key Events
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Definitive Take-Private Agreement
The company entered into a merger agreement on March 2, 2026, to be acquired by a consortium including WCAS and executive officers.
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All-Cash Consideration
Public shareholders will receive $16.50 per share in cash, a 21% premium to the unaffected share price of $13.65 on November 21, 2025.
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Significant Transaction Value
The acquisition is valued at approximately $2.05 billion, representing a complete acquisition of the company.
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Delisting and Deregistration
Upon completion, the company will become privately held, delisted from the NYSE, and deregistered, ending its public trading status.
Analysis
This SC 13E3 filing provides the comprehensive transaction statement for the definitive agreement under which Select Medical Holdings Corp. will be acquired and taken private by a consortium led by WCAS and certain executive officers. The transaction, valued at approximately $2.05 billion, offers public shareholders $16.50 per share in cash, representing a 21% premium to the unaffected share price of $13.65 on November 21, 2025. The company will be delisted from the NYSE and deregistered, marking a fundamental change for public investors. The deal is supported by a unanimous recommendation from a Special Committee of independent directors and requires approval from both a majority of outstanding shares and unaffiliated stockholders.
At the time of this filing, SEM was trading at $16.38 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2B. The 52-week trading range was $11.65 to $18.61. This filing was assessed with neutral market sentiment and an importance score of 10 out of 10.