One Equity Partners to acquire M*Modal for $1.1B

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One Equity Partners, the private investment arm of JP Morgan Chase, will acquire all of the outstanding shares of clinical documentation services provider M*Modal.

Under the terms of the agreement, which was unanimously approved by Franklin, Tenn.-based M*Modal’s board of directors, M*Modal shareholders will receive $14.00 in cash for each outstanding share of M*Modal common stock they own. This represents an 8.3 percent premium over the last full day of trading before the announcement and the total transaction is valued at approximately $1.1 billion.

The deal is expected to close during the third quarter of 2012.