Cross Country Healthcare Merger Agreement with Aya Healthcare Terminated

Core Viewpoint - Cross Country Healthcare has terminated its merger agreement with Aya Holdings II Inc., resulting in a $20 million termination fee payable by Aya Healthcare to Cross Country Healthcare [1]. Group 1: Merger Agreement Details - The merger was subject to various closing conditions, including a review by the U.S. Federal Trade Commission (FTC) under the Hart-Scott-Rodino Antitrust Improvements Act [2]. - The FTC issued a "Second Request" for additional information on February 20, 2025, leading to an extension of the HSR waiting period and the merger agreement end date [3]. - Due to a government shutdown, the HSR waiting period was extended, ultimately exceeding the termination date of the merger agreement [3]. Group 2: Company Response and Future Outlook - Cross Country Healthcare made efforts to expedite the FTC review but could not reach an agreement with Aya Healthcare to extend the merger agreement [4]. - The CEO of Cross Country Healthcare expressed confidence in the company's strategic plan and operational resilience, highlighting a strong cash position and no debt [5]. - The company plans to initiate stock repurchases of up to $40 million, reflecting its financial strength and commitment to shareholder value [5].