Reuters: Blackstone closes in on Team Health

|About: The Blackstone Group L.P. (BX)|By:, SA News Editor

Blackstone (NYSE:BX) is the lead bidder to acquire physician-services company Team Health (NYSE:TMH), Reuters reports.

The agency couldn't say what Blackstone has offered, although Team Health closed +7.2% at $40.25 yesterday, giving it a market cap of $2.93B.

Blackstone has already owned Team Health before - from 2005-2009 - and its second pursuit of the company comes amid consolidation in the sector.

Earlier this year, Team Health was forced to make board changes following pressure from activist investors such as Jana Partners.

Previously