Enhabit up after Arex Capital pushes company to consider sale

Enhabit

13/06/2023 15:33

** Shares of health and hospice services provider Enhabit
 EHAB.N  rise 4.5% to $12.60 
    ** Hedge fund Arex Capital Management is urging EHAB to put
itself up for sale and begin a strategic review, according to a
letter seen by Reuters
    ** The proposal comes after share price of EHAB has been cut
nearly in half since it went public a year ago
    ** Enhabit was spun off from post-acute healthcare services
provider Encompass Health Corp  EHC.N  on July 1, 2022
    ** Company could fetch a "potential sale price range of
$30-$40 per share, more than triple Enhabit's current share
price" - letter
    ** Including session's gains, stock down ~3% YTD

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))