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UnitedHealth Group’s Optum unit has submitted an unsolicited all-cash bid of almost $3.3 billion for Amedisys, which last month agreed to be bought by Option Care Health in all-stock deal.
The $100 per-share bid represents a 26% premium over Amedisys’ closing price Friday of $86.25 per share.
Option Care Health’s all-stock offer valued Amedisys at $97.38 a share. Under the terms of that proposal, Amedisys stockholders would receive 3.0213 shares of Option Care Health’s common stock for each share of Amedisys common stock.
In a news release, Amedisys said its board is engaging in discussions with Eden Prairie, Minnesota-based Optum and believes its offer could be “superior” to the deal it cut with Option Care Health. The board determined the bid was reasonable on May 27.
Optum Care Solutions CEO Dr. Patrick Conways said a merger with Amedisys could “drive meaningful health outcomes and experiences of more patients at lower costs, leading to continued growth.”
This is a breaking news story. Check back for updates.
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