Stone Point, General Atlantic propose to buy remaining stake in HireRight

HireRight Holdings

08/12/2023 23:30

Dec 8 (Reuters) - Stone Point Capital and General
Atlantic proposed to buy the shares the investment firms do not
already own in employee-screening company HireRight Holdings
 HRT.N , according to a regulatory filing on Friday.
    The proposed transaction is for a price per share equal to
$12.75 in cash, a near 3% discount to HireRight's last closing
price.
    Stone Point and General Atlantic are HireRight's largest
shareholders with a combined 74.8% of its stock, according to
data from LSEG.
    HireRight did not immediately respond to a Reuters request
for comment.
    HireRight provides services to enterprises such as criminal
and financial background screening for new and potential
employees.
    HireRight's third-quarter revenue declined nearly 11% to
$188.3 million from a year earlier, the company said in
November. 

 (Reporting by Arsheeya Bajwa in Bengaluru; Editing by Maju
Samuel)
 ((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))