Ropes & Gray Reps Blackstone In $3B Emdeon Buyout

Law360, New York (August 4, 2011, 3:18 PM EDT) -- Emdeon Inc. announced Thursday that it would be bought by a unit of private equity giant The Blackstone Group LP in a $3 billion deal that would take the Tennessee-based health care information technology company private.

Emdeon's stock leaped by nearly 13 percent Thursday, bucking a massive stock selloff and closing at $18.35 per share after the New York-based Blackstone Capital Partners VI LP, whose parent company recently said said it has more than $31 billion worth of uninvested "dry powder," announced its $19-per-share offer.

"This transaction...
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