secwatch.observer — SEC 8-K summary
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Issuer:     SELECT MEDICAL HOLDINGS CORP (SEM)
CIK:        0001320414
Form:       8-K
Filed at:   2026-03-03T23:59:59+00:00
Accession:  0001104659-26-022577
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Select Medical to be acquired by consortium led by Ortenzio, Jackson, WCAS for $16.50/share
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- Enterprise value of $3.9B; Merger Consideration of $16.50 per share in cash.
- Premium of ~18% over unaffected price (Nov 24, 2025) and ~25% over 90-day VWAP.
- Ortenzio, Jackson and certain affiliates rolling over ~11.8% equity stakes; will vote in favor.
- Closing expected mid-2026, subject to stockholder approval, HSR, and regulatory clearances.
- Company termination fee $66.5M; Parent termination fee $133.0M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320414/000110465926022577/0001104659-26-022577-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320414/000110465926022577/tm267827d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-022577

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer