Fortress Value Acquisition Corp. II (FAII) to Combine with ATI Physical Therapy in $2.5Bn Deal

Fortress Value II (NYSE:FAII) has entered into a definitive agreement to combine with ATI Physical Therapy at an enterprise value of $2.5 billion, or 14x its 2022E EBITDA. ATI runs a network of 875 physical therapy clinics in 25 states, with about 41% of its business serving government clients or worker compensation care. The combined
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