, Columnist
Team Health Wins By Waiting
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Team Health was smart to hold out for more.
The provider of outsourced physician services on Tuesday rejected a $5.2 billion takeover offer from AmSurg. The stock-and-cash bid was valued at about $71.47 a share based on AmSurg's closing price Monday. It's now worth about $69, after AmSurg slumped 4.1 percent amid concerns it's overreaching with the takeover, along with the traditional selloff of the acquirer.
Either way, AmSurg is offering Team Health shareholders a lower price than the $72.38 that analysts on average were forecasting the company would achieve on its own over the next year. All but one analyst recommended buying Team Health before the takeover approach.