Convey’s $1.1 Billion Take‑Private Acquisition by TPG

On June 21, 2022, Convey Health Solutions Holdings, Inc. (“Convey”), a leading healthcare technology and services company, announced that it has entered into a definitive merger agreement pursuant to which TPG Capital, the private equity platform of global alternative asset management firm TPG and Convey’s principal shareholder, will acquire all of the outstanding shares of Convey common stock not currently owned by TPG or certain management and director shareholders for $10.50 per share in cash, representing an enterprise value of approximately $1.1 billion. Cravath is representing Convey in connection with the transaction.

The Cravath team is led by partners Aaron M. Gruber and Andrew M. Wark and includes associates Marc Bode and Rachael E. Joseph on M&A matters; partners William V. Fogg and Michael E. Mariani on financing matters; partner Ronald E. Creamer Jr. on tax matters; partner Matthew M. Kelly on banking matters; partner Eric W. Hilfers, practice area attorney Arian Mossanenzadeh and associate David Crampton on executive compensation and benefits matters; partner David J. Kappos and associate Carys J. Webb on intellectual property matters; and practice area attorney Brian M. Budnick on real estate matters. Jamie H. Lee also worked on tax matters; summer associates Jack Feiyang Chen and Phillip Kwon worked on M&A matters; summer associate Chanty Pele Gbaye worked on financing matters; and summer associate Lucille Dai‑He worked on intellectual property matters.