LHCG - LHC Group gains as deal with UnitedHealth extended until late March
- LHC Group ( NASDAQ: LHCG ) rose 1.1% after the company extended the termination date for its sale to UnitedHealth to March 28 and said that it expects the deal to close in 1Q.
- LHC ( LHCG ) also said that company and UnitedHealth ( NYSE: UNH ) certified to the FTC their substantial compliance with their respective second requests on Tuesday, according to an 8-K filing late Tuesday.
- LHCG ( LHCG ) and UnitedHealth ( UNH ) received a second request from the FTC in July related to the $5.4 billion deal. Dealreporter said that the request for more information was centered on workers' pay in the home healthcare space.
- Some M&A investors have focused on the LHCG/UNH deal after the DOJ sued to block the UnitedHealth's purchase of Change Healthcare in February, a deal that eventually went through after the companie s won a court battle in September. Last month U.S. antitrust regulators appealed a loss to its attempt to block UnitedHealth's ( UNH ) $8 billion takeover of Change Healthcare.
- UnitedHealth ( UNH ) agreed to buy home health business LHC Group for $170/share in late March.
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LHC Group gains as deal with UnitedHealth extended until late March