According to Reuters, Third Point takes stake in Cano Health (CANO) pushes for sale

  • March 10, 2022

POTENTIAL DEAL DETAILS

Stock Cano Health, Inc. Symbol CANO
Date Announced 03/09/2022 Source Reuters
Type Company Seeking Strategic Alternatives

Hedge fund Third Point LLC is pushing Cano Health (CANO) to put itself up for sale because the senior-care facility operator’s stock price has tumbled since it went public with a blank check company.

Update(s):

August 22, 2022: Owl Creek Asset Management, on behalf of its affiliated investment funds, sent a letter to the Cano Health (CANO) Board of Directors strongly encouraging the Company to pursue strategic alternatives by engaging with investment bankers and other advisors to pursue a sale to a strategic buyer.

September 22, 2022: Humana (HUM), CVS (CVS), and other possible buyers are circling Cano Health (CANO) according to people familiar with the situation, as healthcare heavyweights scramble to snap up primary-care providers.

September 22, 2022: U.S. primary care provider Cano Health (CANO) is exploring a sale and working with advisors after receiving acquisition interest, according to people familiar with the matter.

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