Option Care Health jumps on $5.8 billion take-private deal
BUZZ-Option Care Health jumps on $5.8 billion take-private deal Updates
** Shares of Option Care Health OPCH.O soar 33% to $31.07
** McKesson MCK.N and private equity firm Clayton Dubilier & Rice to buy OPCH in a deal worth about $5.8 billion including debt
** Option Care shareholders to get $32.05 per share, which represents a 37.1% premium to the co's last closing price
** McKesson will invest about $1.4 billion for a 49% stake, holding the right to purchase the remaining 51% from CD&R at some point in the future
** Leerink Partners analyst calls the deal "logical adjacency for an investment that furthers McKesson's broadening reach into various areas of vertical integration"
** The deal is expected to close in the first half of 2027, after which Option Care Health will become a privately held company
** McKesson's shares marginally up at $922.41
** As of last close, OPCH down 26.7% YTD
(Reporting by Kamal Choudhury in Bengaluru)
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