Market Updates
Amedisys Accepts $3.3 Billion Cash Offer from Optum
Scott Peters
26 Jun, 2023
New York City
Amedisys agreed to merge with a subsidiary of UnitedHealth Group, upending its plan to just six weeks ago.
The home-healthcare, hospice and high-acuity care provider accepted an all-cash $101 a share or $3.29 billion offer from Optum.
The merger agreement is conditional based on regulatory approval and shareholder approval and customary closing conditions.
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.
On June 5, Optum made an unsolicited offer to acquire Amedisys for $100 a share.
Amedisys board of directors accepted a slightly lower but all-cash deal.
Compensation committee approved one-time equity award grants of time-based restricted stock units that vest ratably over three years.
Amedisys CEO Richard Ashworth will receive $2.5 million grant date value, and CFO Scott Ginn will receive $1.5 million grant date value, effective from the date of merger in exchange for not agreeing to leave the company for six months after the completion of the merger.
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