December 10, 2018 / 11:17 AM / a year ago

CORRECTED-BRIEF-Tivity Health To Acquire Nutrisystem For $1.4 Bln In Cash And Stock

(Corrects the headline deal figure to $1.4 bln)

Dec 10 (Reuters) - Tivity Health Inc:

* TIVITY HEALTH TO ACQUIRE NUTRISYSTEM FOR $1.3 BILLION IN CASH AND STOCK

* TIVITY HEALTH INC - DEAL FOR APPROXIMATELY $47.00 PER SHARE

* TIVITY HEALTH INC - NUTRISYSTEM SHAREHOLDERS WILL RECEIVE $38.75 PER SHARE IN CASH AND 0.2141 TIVITY HEALTH SHARES FOR EACH SHARE OF NUTRISYSTEM COMMON STOCK

* TIVITY HEALTH INC - DEAL FOR AN EQUITY VALUE OF $1.4 BILLION

* TIVITY HEALTH INC - IMPLIED STOCK CONSIDERATION OF $8.25 PER NUTRISYSTEM SHARE

* TIVITY HEALTH INC - UPON DEAL CLOSING, TIVITY HEALTH SHAREHOLDERS ARE EXPECTED TO OWN APPROXIMATELY 87% OF PRO FORMA COMPANY ON A FULLY DILUTED BASIS.

* TIVITY - TIVITY HEALTH WILL FINANCE CASH PORTION OF ACQUISITION WITH FULLY COMMITTED TERM LOAN FINANCING FROM CREDIT SUISSE AND EXISTING CASH ON HAND

* TIVITY HEALTH INC - TIVITY HEALTH EXPECTS TO REDUCE NET LEVERAGE TO LESS THAN 3.5X BY END OF 2020, AND LESS THAN 2.5X BY END OF 2021.

* TIVITY HEALTH INC - EXPECT DOUBLE DIGIT ACCRETION TO TIVITY HEALTH’S ADJUSTED EPS IN 2020 AND BEYOND FROM DEAL

* TIVITY HEALTH INC - UPON CLOSING OF ACQUISITION, TIVITY HEALTH EXPECTS TO MAINTAIN ALL EXISTING NUTRISYSTEM BRANDS

* TIVITY HEALTH INC - DEAL WITH EXPECTED ANNUAL COST SYNERGIES OF ABOUT $30-$35 MILLION

* TIVITY HEALTH - DAWN ZIER WILL BECOME PRESIDENT AND COO OF CO UPON CLOSING OF ACQUISITION

* TIVITY HEALTH - ZIER WILL JOIN CO’S BOARD Source text for Eikon: Further company coverage:

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