Churchill Capital to merge with MultiPlan in an $11bn deal.

Churchill Capital III, a NYSE-listed $1.1bn, equity growth investment company and the third vehicle in the Churchill Capital group of companies, agreed to merge with MultiPlan, a technology-enabled provider of end-to-end healthcare cost management solutions, in an $11bn deal. MultiPlan is currently owned by Hellman & Friedman and other investors. Leonard Green will invest as well. "We are pleased to partner with MultiPlan to drive its next phase of growth. MultiPlan is on the right side of healthcare, significantly reducing costs to insurers, employers and consumers. MultiPlan has an unmatched, long-term track record of customer satisfaction and delivering high returns to investors. This transaction will enable the Company to enhance its capital structure and position it for substantial incremental growth. MultiPlan fits perfectly with Churchill's core mission to provide intellectual and financial capital to power the growth of great, market-leading companies who operate in attractive industries and can succeed more rapidly in the public markets with increased capital and the benefit of Churchill's Operating and Strategic Partners," Michael S. Klein, Churchill Chairman and CEO. On October 2, 2020, Churchill Capital stated that the combination should close on October 8, 2020, immediately following the special meeting of stockholders, subject to final stockholder approval and satisfaction of other customary conditions. The shareholders of Churchill Capital III approved the transaction on October 8, 2020.