Cross Country Healthcare falls amid report on FTC review of Aya deal

[Medical Professional Team Meeting]
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Cross Country Healthcare (NASDAQ:CCRN [https://seekingalpha.com/symbol/CCRN]) dropped 5% amid a report about the status of the Federal Trade Commission's review of its planned sale to Aya Healthcare.

The FTC has been deposing third parties in its review of the planned $615 million transaction, according to traders, who cited a Capitol Forum report that circulated on Thursday. The antitrust regulator is focusing on the impact of rival travel nursing staffing companies combining. The FTC staff is largely focused on how the combined company would impact hospitals.

In March, Cross Country (NASDAQ:CCRN [https://seekingalpha.com/symbol/CCRN#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]) received a second request f [https://seekingalpha.com/news/4412167-cross-country-healthcare-aya-get-2nd-request-from-ftc-on-deal#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]rom the FTC about the travel nursing company's planned sale to Aya. Cross Country (NASDAQ:CCRN [https://seekingalpha.com/symbol/CCRN#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]) and Aya disclosed the companies had certified that they had substantially complied with the FTC's second request as of Aug. 29, according to an 8-K [https://seekingalpha.com/filing/10382337#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]filing. The deal is expected to close in Q4.

Aya Healthcare in December entered into a definitive agreement to acquire Cross Country for $18.61/share in cash. [https://seekingalpha.com/news/4362496-cross-country-healthcare-stock-soars-on-acquisition-by-aya-healthcare-for-1861share#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]

MORE ON CROSS COUNTRY HEALTHCARE

* Cross Country Healthcare gains on speculation it wasn't subject of FTC meeting [https://seekingalpha.com/news/4496325-cross-country-healthcare-gains-on-speculation-it-wasnt-subject-of-ftc-meeting]
* Cross Country Healthcare falls as FTC schedules meeting for next week [https://seekingalpha.com/news/4494108-cross-country-healthcare-falls-as-ftc-schedules-meeting-for-next-week]
* Seeking Alpha’s Quant Rating on Cross Country Healthcare [https://seekingalpha.com/symbol/CCRN/ratings/quant-ratings]
* Historical earnings data for Cross Country Healthcare [https://seekingalpha.com/symbol/CCRN/earnings]
* Financial information for Cross Country Healthcare [https://seekingalpha.com/symbol/CCRN/income-statement]