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WAGE - Taking A Look Into What HealthEquity Has Purchased
WageWorks Inc.
Introduction
On June 27, 2019, HealthEquity (HQY) announced that it will acquire WageWorks (WAGE) at $51.35/share. The company announced its plan to finance the acquisition through a combination of stock offering and debt.
Since this news, WageWorks reported a disappointing Q2 causing HQY stock to drop sharply. Due to issues with former management, WageWorks has been going through a rough time since 2017. The impact of that is seen in declining top line in 2018 as well as the first two quarters of 2019.