Rhea-AI Summary
Select Medical Holdings has announced a special stock distribution of its Concentra holdings to shareholders. The distribution will occur on November 25, 2024, with a record date of November 18, 2024. Stockholders will receive approximately 0.806971 shares of Concentra's common stock (NYSE: CON) for each share of Select Medical stock held. The distribution represents about 81.7% of Concentra's outstanding shares, totaling 104,093,503 shares. The transaction is intended to be tax-free for U.S. federal income tax purposes, and no stockholder action is required. Cash will be provided in lieu of fractional shares.
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