Alliance HealthCare Services, a national provider of outsourced radiology, oncology and interventional services, has received a non-binding proposal from Tahoe Investment Group Co (Tahoe), formerly known as Fujian Thai Hot Investment Co, to acquire all of the outstanding common shares of Alliance that are not currently owned by THAIHOT Investment Company Limited (THAIHOT), an indirect wholly owned subsidiary of Tahoe.
On March 29, 2016, Tahoe, through its subsidiary, completed the purchase of the majority interest in Alliance, owning an aggregate of approximately 52 percent of outstanding common stock. Subsequently it entered into a Governance, Voting and Standstill Agreement (the Governance Agreement) with the company.
The board of directors of Alliance has authorized a special committee, comprised solely of directors not affiliated with Tahoe, to evaluate the expression of interest proposal.
The special committee has engaged independent legal counsel and intends to engage an independent financial advisor to assist in its evaluation of the expression of interest.
Alliance HealthCare Services, US, Tahoe, M&A, Healthcare, Risk management