Talkspace gains after report of buyout talks by Amwell

AMERICAN WELL

28/11/2022 16:34

(Updates)
    ** Shares of online therapy app Talkspace Inc  TALK.O  rise
~39% to $0.83
    ** Stock set for best day on record if gains hold 
    ** Company in advanced talks to be acquired by telehealth
firm Amwell  AMWL.N , according to a report on Sunday    
    ** Report mentions a price of $1.50/shr for TALK, reflecting
a value of $200 mln; price represents a premium of 150% over
Talkspace's Friday close
    ** However, brokerage Cowen says that based on its channel
checks, it doesn't believe there is a process occurring as
suggested in the report
    ** Amwell and Talkspace decline to comment
    ** Including session moves, Talkspace shares down ~58% YTD
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com))