Churchill Capital Corp III to Combine with MultiPlan

July 12, 2020

Churchill Capital Corp III agreed to merge with MultiPlan, taking the healthcare cost-management company public in a transaction that implies an initial enterprise value of approximately $11 billion. The deal includes up to $3.7 billion of new equity- and equity-linked capital (including a $2.6 billion PIPE and $1.1 billion from Churchill) to reduce debt and fund MultiPlan's organic and M&A-driven growth; Hellman & Friedman will remain MultiPlan's largest shareholder.

Buyers
Churchill Capital Corp III, PIPE investors
Targets
MultiPlan, Inc.
Sellers
Existing MultiPlan shareholders
Location
New York, United States
Transaction Type
Buyout

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