Battle for Amedisys – Merger Arbitrage Mondays
Key Highlights
- Amedisys (AMED) receives an unsolicited proposal from Optum. Board of Amedisys considers it a superior offer.
- Chinook Therapeutics (KDNY) enters into an agreement to be acquired by Novartis AG for $40 per share in cash, with the potential to receive up to an additional $4 per share in cash through contingent value rights.
- Citizens Financial Services (CZFS) revises the exchange ratio for the pending merger with HV Bancorp (HVBC), to reflect the 1% stock dividend declared by CZFS.
Amedisys (AMED)
Amedisys is a healthcare services company that focuses on providing clinically distinct care that is tailored to the individual needs of patients, whether it be for recovery and rehabilitation at home or for chronic disease management.
A month after agreeing to be bought by Option Care Health (OPCH) in an all stock deal, Amedisys received an unsolicited all-cash offer from UnitedHealth Group’s health services company Optum, for $100 per share. The company’s shares were over 15% higher at $91.74 following the announcement last Monday.
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