![]() ![]() In it, Option Care highlighted its leadership team’s successful track record while underscoring the financial and clinical upside a combination with Amedisys offers. Option Care Health released its own press release Monday regarding the news. Amedisys notes that there can be no assurance that the discussions with Optum will result in a transaction.” “The merger agreement with Option Care Health does not permit Amedisys to terminate the merger agreement in favor of an alternative transaction, or to enter into any agreements with respect to an alternative transaction, other than a confidentiality agreement. “Amedisys remains bound by the terms of the merger agreement with Option Care Health, and Amedisys’ Board has not determined that Optum’s proposal constitutes a Superior Proposal as defined in the merger agreement with Option Care Health,” the SEC filing reads. ![]() The conditions of that merger pact still apply for now, and the Amedisys board has not judged that Optum’s proposal meets the criteria for a superior proposal under the terms of that agreement. Then, upon closing, Option Care Health stockholders would own approximately 64.5% of the combined company, and Amedisys stockholders would own approximately 35.5%. That’s equal to $97.38 per Amedisys share, based on Option Care Health’s May 2 closing stock price. Under the current agreement with Option Care Health, Amedisys stockholders would receive 3.0213 shares of Option Care Health stock for each share of Amedisys common stock they hold. It closed on a deal for LHC Group – another one of the largest home health providers in the country – in February for $5.4 billion. Meanwhile, Optum is UnitedHealth Group’s health care services arm. “As permitted by the terms of Amedisys’ merger agreement with Option Care Health, Amedisys entered into a confidentiality agreement with Optum on May 30, 2023, and is currently engaging in exploratory discussions with Optum with respect to Optum’s proposal.” “On May 27, 2023, the Board determined that the unsolicited proposal received from Optum could reasonably be expected to result in an ‘Amedisys Superior Proposal’ as defined in Amedisys’ merger agreement with Option Care Health,” Amedisys wrote in an SEC filing. The two were expected to merge by the back half of 2023. Option Care Health and Amedisys agreed last month to combine in a deal that valued Amedisys at $3.6 billion. This could represent a “superior proposal” to Option Care Health’s (Nasdaq: OPCH) proposed deal for Amedisys. UnitedHealth Group’s (NYSE: UNH) Optum has made an unsolicited proposal to acquire all of the outstanding shares of Amedisys’ common stock in an all-cash transaction for $100 per share, the latter announced Monday morning.
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