GuideWell Mutual Holding Corporation’s Acquisition of Triple-S Management Corporation
August 24, 2021
On August 24, 2021, GuideWell Mutual Holding Corporation (“GuideWell”), a health solutions company and parent of Blue Cross and Blue Shield of Florida, Inc., and Triple-S Management Corporation (“Triple-S Management”), a leading health care services company in Puerto Rico, announced they will combine. Under the terms of the definitive agreement, GuideWell will acquire all the outstanding shares of Triple-S Management common stock for $36.00 per share in cash. The transaction equity value is approximately $900 million. Upon completion of the transaction, Triple-S Management will become a subsidiary of GuideWell and will continue to operate under the Triple-S Management brand. Cravath is representing GuideWell in connection with the transaction.
The Cravath team is led by partners Minh Van Ngo and Andrew M. Wark and includes associates Douglas C. Dolan, Catriela Cohen, Andrea Román-González and Jesse P. Houchens on M&A matters; partners Jonathan J. Katz and Matthew J. Bobby, practice area attorney Aaron S. Cha and associates Tiffany B. Wong and David Crampton on executive compensation and benefits matters; partner Margaret T. Segall on antitrust matters; partner Matthew Morreale on environmental matters; practice area attorney Anthony N. Magistrale on intellectual property matters; practice area attorneys Brian M. Budnick and Laurel R. Berkowitz on real estate matters; and associates Arvind Ravichandran and Joana W. Li on tax matters. Jill C. Refvem also worked on M&A matters.
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