Amedisys, Inc. (NASDAQ:) shares surged more than 15% today after the company disclosed that it has received an unsolicited proposal from Optum, a diversified health services company, to acquire all outstanding shares of Amedisys’ common stock in an all-cash deal for $100 per share.
This offer comes after Amedisys had already entered into a merger agreement with Option Care Health, Inc. (NASDAQ:), as announced on May 3, 2023. Under the terms of the merger agreement, Amedisys stockholders would receive 3.0213 shares of Option Care Health common stock for each existing share of Amedisys common stock they hold at the closing of the transaction.
In response to Optum’s proposal, Amedisys’ Board of Directors consulted with its external counsel and financial advisor to conduct a comprehensive evaluation. Amedisys is adhering to the terms of the merger agreement with Option Care Health and has not deemed Optum’s proposal to be a “Superior Proposal” as defined in the existing agreement.
While engaging in exploratory discussions with Optum, Amedisys remains committed to the merger agreement with Option Care Health, which is subject to approval from both companies’ stockholders and relevant regulatory authorities.
Amedisys stockholders do not need to take any action at this time. The Amedisys Board’s recommendation in favor of the merger agreement with Option Care Health and the merger with Option Care Health continues to be in effect. There is no certainty that the discussions with Optum will result in a finalized transaction.
Option Care Health shares closed with more than a 6% gain today.
