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

Amedisys Inc.
AMED,
+13.32%
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,
+4.06%
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,
+0.07%
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
SPX,
+0.19%
has tacked on 3.5%.