KKR & Co. LP is close to acquiring U.S. medical services provider Envision Healthcare Corp. for about $5.5 billion, The Wall Street Journal reported, citing anonymous sources.
The transaction would be valued at $10 billion including debt. This would make the deal one of the largest leveraged buyouts of late, the newspaper said. An agreement may be announced on June 11.
The private equity firm would pay $46 per share, about 5% more than Envision's closing price of $43.64 on June 8 and almost 70% more than the level the stock traded at when the company announced a strategic review last year.
Nashville, Tenn.-based Envision, which provides physician services to hospitals and clinics, has been holding an auction since it began the review.
Buyout firms such as KKR hold more than $1 trillion at a time when markets are near historical peaks and companies are pursuing acquisitions as well, the Journal reported.
