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LHC Group Shares Move Higher on Report of Takeover by UnitedHealth

By Colin Kellaher

 

Shares of LHC Group Inc. rose in premarket trading Tuesday after The Wall Street Journal reported that UnitedHealth Group Inc. has agreed to buy the home-health company for about $5.4 billion.

According to the report, UnitedHealth, parent of the biggest health insurer in the U.S., will pay $170 a share for LHC, an 8.1% premium to Monday's closing price of $157.23 for the Lafayette, La., company.

News of the deal, expected to be announced Tuesday morning, sent shares of LHC up 5% to $165.09 in premarket trading.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

March 29, 2022 07:06 ET (11:06 GMT)

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