Fly News Breaks for October 21, 2015
AMSG, TMH
Oct 21, 2015 | 08:34 EDT
After AmSurg (AMSG) announced a hostile takeover for Team Health (TMH) and the latter company rejected the offer, Wells Fargo says that AmSurg's offer appears attractive, but consists of only 16% cash. The firm says that AmSurg will need to raise the cash portion of the offer to get the deal done. Wells notes that consolidation in the sector has accelerated, while synergies exist between the companies and they need to drive additional growth. The firm thinks that a merger between the companies makes sense. It keeps an Outperform rating on Team Health.
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