Option Care Health surges on report McKesson and CD&R nearing $5 billion deal
BUZZ-Option Care Health surges on report McKesson and CD&R nearing $5 billion deal ** Shares of infusion services provider Option Care Health OPCH.O soar 22% to $28.45 in extended trading
** Healthcare group McKesson and private equity firm Clayton Dubilier & Rice are closing in on a deal to buy OPCH, valuing the business at more than $5 billion including debt, the Financial Times reported
** A deal could be reached as soon as Tuesday, but it is yet to be formally agreed and discussions could fall apart, FT reported, citing people in the know
** Under the terms of the deal being discussed, CD&R will own a 51% stake in Option Care, while McKesson will own a 49% stake, the people said
** McKesson will have the right to purchase the buyout firm's stake in the future, they added
** McKesson, CD&R and Option Care did not immediately respond to Reuters' requests for comment
** As of last close, OPCH stock down 26.65% YTD
(Dharna Bafna in Bengaluru)
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