Option Care Health (OPCH.O) jumps on $5 bln takeover bid report
Shares of Option Care Health jumped 23.2% premarket after the Financial Times reported McKesson and private equity firm CD&R were nearing a deal to buy the company for more than $5 billion, including debt.
79 in premarket trading after a Financial Times report said McKesson and private equity firm CD&R were nearing a deal to buy the company for more than $5 billion, including debt. McKesson declined to comment, while CD&R and Option Care did not immediately respond to Reuters requests sent on Monday. 5 billion at the last close. William Blair said the valuation looked "low for Option Care / attractive for McKesson/CD&R".
The brokerage also said the reported premium of more than 20% to Monday's close was a slight disappointment for Option Care and said it would not be surprised if one or more competitive bids emerged. 7% year to date.