The all-cash deal of $46 per share represents a 32% premium to Envision’s volume-weighted average share price (VWAP) as on November 1, 2017. KKR shares are currently trading up 0.8% at $23.17, while EVHC is up 2.66% to $44.80.
In November, when the company said it was looking for strategic alternatives, the shares tanked to close at $28.03 on the first day of the month. From there, Envision has seen just small bouts of ups and down till last weekend.
With a strong roster of analysts backing the stock, marking it bullish, we can expect the price to go up further closing in on the deal value. Even though this is not much from the $60-mark it hit around this time last year, this upbeat trading is helping shareholders get back some value from the investment. Let’s hope KKR turns this arm around and gets Envision to deliver after the deal goes through later this fiscal year.