secwatch.observer — SEC 8-K summary
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Issuer:     CONDUENT Inc (CNDT)
CIK:        0001677703
Form:       8-K
Filed at:   2024-05-06T23:59:59+00:00
Accession:  0001677703-24-000084
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Conduent agrees to sell Casualty Claims Solutions to MedRisk for $240M cash
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- Sale price of $240M cash represents ~9.5x adjusted EBITDA of the disposed business.
- Transaction expected to close in Q3 2024, subject to regulatory approvals and conditions.
- Also voluntarily prepaid $164M of Senior Secured Term Loan B on May 2, 2024.
- Business processed ~29M medical bills in 2023; employees will join MedRisk.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677703/000167770324000084/0001677703-24-000084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677703/000167770324000084/cndt-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001677703-24-000084

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