The Advisory Board Company, a leading provider of research, technology, and consulting to health care organizations and educational institutions, announced that its Board of Directors, working together with its management team and legal and financial advisors, has commenced a process to explore, review, and evaluate a range of potential strategic alternatives focused on maximizing shareholder value. These alternatives could include, among other things, changes in the Company’s operations or strategy, strategic transactions such as a separation or the sale of part or all of the Company, and continuing the Company’s current long-term business plan.
“Our Board of Directors is committed to enhancing value for our shareholders, and this review is an important next step following the comprehensive restructuring initiatives we announced earlier this year,” said Robert Musslewhite, Chairman and Chief Executive Officer of The Advisory Board Company. “While we conduct this review, we will remain focused on executing our business plan, implementing the previously-announced restructuring in our health care business, and continuing to deliver outstanding value to our members.”
The Company’s Board of Directors has not set a timetable for this process nor has it made any decisions related to strategic alternatives at this time, and there can be no assurance that the Board’s exploration of strategic alternatives will result in any change of strategy or transaction being entered into or consummated or, if a transaction is undertaken, as to its terms, structure or timing. The Company does not expect to make further public comment regarding these matters unless and until the Board has approved a specific transaction or alternative or otherwise concludes its review of strategic alternatives.
Goldman, Sachs & Co. and Allen & Company LLC are acting as financial advisors to the Company. Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor.