AMED - Why Shares of Amedisys Are Jumping Monday
2023-06-05 11:40:57 ET
Shares of home healthcare solutions company Amedisys (NASDAQ: AMED) were up more than 14% Monday morning after the company reported that it had received an unsolicited buyout offer from Optum, a branch of UnitedHealth Group . The stock is up more than 8% so far this year.
Amedisys was already having buyout discussions with Option Care Health , but UnitedHealth Group's offer is a $3.26 billion all-cash deal that would buy Amedisys for $100 per share, compared to Option Care's agreement with Amedisys of roughly $97.38 per share. The $100 per share is a 26% premium to the stock's closing price last week.
The move makes sense for Optum, which is focused on value-based care, and in-home healthcare companies have been a hot commodity this year. Optum's offer isn't contingent on financing and doesn't require shareholder approval, UnitedHealth Group said.
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Why Shares of Amedisys Are Jumping Monday