AMED - Amedisys stock surges on receipt of unsolicited $100/share proposal from Optum
2023-06-05 09:09:40 ET
- Amedisys ( NASDAQ: AMED ) shares jump 15.5% premarket on Monday after the firm announces engaging in discussions with Optum, to acquire all of the outstanding shares of Amedisys’ common stock in an all-cash transaction for $100/share.
- Option Care Health ( NASDAQ: OPCH ) has released a statement regarding its proposed merger with Amedisys in an all-stock agreement, as was previously disclosed last month .
- The board has decided that it was reasonable to anticipate that the unsolicited proposal from Optum would lead to a "Amedisys Superior Proposal" as specified in the merger pact between Amedisys and Option Care Health.
- The conditions of the merger pact between Amedisys and Option Care Health still apply, and the company's board has not judged that Optum's proposal meets the criteria for a superior proposal under the terms of that agreement.
- Additionally, Amedisys is not allowed to terminate the merger pact with Option Care Health in favour of a different transaction, nor is it allowed to enter into any agreements with regard to a different transaction, other than a confidentiality agreement.
- Amedisys is now having exploratory negotiations with Optum about Optum's proposal.
- The company, further notes that there can be no assurance that the discussions with Optum will result in a transaction.
- Shares of OPCH are up 3.29% premarket on Monday.
For further details see:
Amedisys stock surges on receipt of unsolicited $100/share proposal from Optum