Amedisys received unsolicited buyout bid from Optum that could be 'superior' to deal with Option Care Health

Amedisys Inc. (AMED) disclosed Monday that it had received an unsolicited cash buyout bid for $100 a share from Optum, which the at-home healthcare services company believes could be considered "superior" to the buyout deal already agreed on with Option Care Health Inc. (OPCH) in early May. Amedisys shares were still inactive in premarket trading while Option Care's stock rallied 4.7%. Optum is a division of health insurer and services company UnitedHealth Group Inc. (UNH) Optum's per-share bid for Amedisys, which represents a 25.8% premium to Amedisys' stock closing price on Friday, implies a $3.26 billion market capitalization for Amedisys. Option Care's bid was all stock, which at the time it was announced valued Amedisys shares at $97.38 each, but at Friday's closing prices valued the shares at $86.25 each. Amedisys said it "remains bound" by the Option Care agreement, as it has not yet determined that Optum's bid is a superior proposal. Amedisys' stock has gained 0.5% over the past month, while Option Care shares have edged up 2.1% and the S&P 500 has tacked on 3.5%.

-Tomi Kilgore

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06-05-23 0839ET

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