Market Updates
Amedisys Received Unsolicited Merger Proposal from Optum
Scott Peters
05 Jun, 2023
New York City
Amedisys Inc soared 14.4% to $90.90 after the home health and hospice company received an unsolicited cash buyout offer from Optum, a division of UnitedHealth for $100 a share.
On May 3, Amedisys and Option Care Health agreed to combine in an all-stock deal that valued Amedisys at $3.6 billion or $97.38 a share.
Upon closing, Option Care Health stockholders will own approximately 64.5% of the combined company, and Amedisys stockholders will own approximately 35.5%.
The merger proposal still needs regulatory and stockholders approvals.
The Baton Rouge, Louisiana based company's stock peaked around $313 in early 2021.
Under the Option Care Health proposal, the combined company will retain its operations in Baton Rouge and Nashville and its chief executive John Rademacher will lead the larger company.
Option Care jumped 7% to $30.57 after the buy out news.
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