10:16 AM EDT, 07/02/2024 (MT Newswires) -- R1 RCM ( RCM ) shares were down by more than 14% in recent Tuesday trading after New Mountain Capital said it is no longer interested in pursuing a joint acquisition of R1 with TCP-ASC and lowered its proposed takeover offer.

In a regulatory filing with the US Securities and Exchange Commission, New Mountain said it is now proposing $13.25 per share in cash to acquire R1 RCM ( RCM ), lower than its initial February offer of $13.75.

New Mountain said it is considering TowerBrook Capital Partners and Ascension Health as equity co-investors.

Price: 10.83, Change: -1.73, Percent Change: -13.77