UnitedHealth starts bidding war with $3.3 billion offer for Amedisys

There’s now a two-party showdown for one of the largest home health companies in the country.

UnitedHealth Group and its Optum division on Monday formally proposed to buy Amedisys for $100 per share, or about $3.3 billion.

The offer comes a few weeks after Option Care Health proposed a $3.6 billion takeover. However, Option Care’s deal is an all-stock transaction, whereas UnitedHealth would pay all cash — a potentially more attractive offer for Amedisys shareholders who want a more immediate payout that isn’t tied to the unpredictability of another company’s stock price. Option Care’s offer is technically worth closer to $2.8 billion now, due to the drop in Option Care’s stock price since the merger was announced. Amedisys is recommending shareholders vote in favor of the deal with Option Care.

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