United Surgical Partners International Inc., which operates short-term stay surgical facilities, on Monday said it agreed to a takeover offer worth about $1.39 billion from a group affiliated with the buyout specialist Welsh, Carson, Anderson & Stowe.
Under the agreement, United Surgical Partners shareholders will receive $31.05 per share, a 13.4 percent premium over its closing price in Friday. It has about 44.6 million shares outstanding.
Including debt being assumed, the transaction is valued at about $1.8 billion.
United Surgical Partners' board approved the deal. The companies expect the transaction to close in the second quarter following regulatory and shareholder approval.
United Surgical Partners has until Feb. 17 to consider other offers. If another offer is accepted, the company would have to pay the bidder UNCN Acquisition Corp. up to $42.5 million in termination fees.
Shares of United Surgical Partners closed Friday at $27.39 on the Nasdaq.