September 07, 2022 | Health Care | North America | Ended

Signify Health / CVS Health: Deal Insights

CVS has agreed to buy in-home healthcare company Signify Health for $8.0bn, the companies announced on 5-Sep-22. Under the definitive deal terms, CVS will pay $30.50 per share, implying a 6% premium over Signify’s previous day’s closing and a 53% premium over its 5-Aug-22 close, the last undisturbed trading day before the Wall Street Journal reported that the company was up for sale, with bids due by 6-Sep-22. According to Bloomberg, CVS clinched the deal after beating out other potential buyers, including (AMZN US), UnitedHealth Group (UNH US), and Option Care Health (OPCH US). CVS winning the auction came as a slight surprise since sources had previously told the news outlet that UNH submitted the highest bid, in excess of $30 per share, while Amazon’s offer was close behind...

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