The stock is trading at a narrow ~$0.08 discount to the $13.25 offer, reflecting high probability of completion. Monitor the HSR waiting period expiration on June 22 and the stockholder vote on July 16. Any regulatory delay or shareholder opposition could widen the spread, but the deal appears on track. If completed, shares will be cashed out at $13.25.
Price Chart
Executive Summary
Cross Country Healthcare (CCRN) has filed a definitive merger proxy (DEFM14A) for its acquisition by Knox Lane at $13.25 per share in cash, valuing the company at approximately $437 million. The deal represents a ~31% premium to the pre-announcement close and a ~45% premium to the 90-day VWAP. The board unanimously recommends approval, and the special meeting is set for July 16, 2026, with closing expected in Q3 2026.
Key Financial Metrics
Key Facts
- All-cash merger consideration of $13.25 per share, representing ~31% premium to May 6, 2026 closing price and ~45% premium to 90-day VWAP.
- Total deal value of approximately $437 million.
- Board of directors unanimously recommends stockholders vote FOR the merger.
- Special meeting scheduled for July 16, 2026; record date June 12, 2026.
- HSR waiting period expires June 22, 2026; no financing condition.
- Termination fee of $14,213,075 payable by either party under certain circumstances.
- Appraisal rights available under Delaware law for dissenting stockholders.
Financial Impact
Stockholders receive $13.25 per share in cash, a ~31% premium to the unaffected price. The stock currently trades at $13.17, near the offer price, implying high deal confidence.
Risk Factors
- Regulatory delay or challenge under HSR Act, though waiting period expires June 22.
- Failure to obtain stockholder approval (requires majority of outstanding shares; insiders own ~6.8% and are expected to vote for).
- Adverse change in Cross Country's business triggering a material adverse effect condition.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 2 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFM14A Filing (Primary) | 0001140361-26-025249 |
| Document: ny20073866x2_defm14a.htm | 0001140361-26-025249 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 6, 2026 16w ago | 425 | $13.20 | awaiting T+20 | — | — |
Jul 6, 2026 16w ago | 8-K | $13.20 | awaiting T+20 | — | — |
Jun 15, 2026 19w ago | DEFM14A | $13.18 $13.22 | ▲ +0.30% | ▲ +0.10% | — |
Jun 3, 2026 20w ago | PREM14A | $13.19 $13.20 | ▲ +0.08% | ▲ +1.45% | — |
May 7, 2026 24w ago | DEFA14A | $13.18 $13.18 | · 0.00% | ▼ −0.02% | — |
May 7, 2026 24w ago | DEFA14A | $13.18 $13.18 | · 0.00% | ▼ −0.02% | — |
May 7, 2026 24w ago | 8-K | $13.18 $13.18 | · 0.00% | ▼ −0.02% | — |
May 7, 2026 24w ago | 8-K | $13.09 $13.12 | ▲ +0.23% | ▼ −2.91% | — |
Apr 17, 2026 27w ago | 8-K | $9.96 $13.10 | ▲ +31.53% | ▲ +27.32% | — |
Mar 4, 2026 33w ago | 8-K | $9.89 $9.18 | ▲ +7.18% | ▲ +3.39% | — |
US Market Status
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