ARA agrees to be acquired by Nautic in deal which values company at

$853M -

Under the terms of the purchasing agreement between American Renal Associates (ARA) and mid-market PE firm Nautic, ARA can take advantage of a 40-day “go shop” period, during which its board can solicit alternative offers and terminate the agreement with Nautic if a superior proposal is put forward. ARA shareholders will receive $11.50 per share, which represents a 66% premium over the company’s closing price on Oct. 1. The deal is expected to close in Q1 of 2021. ARA CEO Joe Carlucci will delay his retirement to facilitate the transaction and guide it through “its next stage.”