Amedisys sinks after report DOJ leaning toward challenging UnitedHealth deal
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Amedisys (NASDAQ:AMED) quickly dropped 4.2% after a report that the Dept. of Justice is leaning toward filing a lawsuit to challenge UnitedHealthcare’s (UNH) planned acquisition.
The regulator could challenge the deal as soon as this week, according to traders, who cited a Capitol Forum report that was circulating on Monday.
The latest news comes after Bloomberg reported late last month that UnitedHealth (UNH) and Amedisys (AMED) were expected to meet with DOJ officials in a final effort to persuade the agency to not file a lawsuit to block its proposed deal.
The companies have said they expect the deal to be completed by the end of the year.
Amedisys (AMED) agreed to a $101 a share sale to UnitedHealth in late June of last year, Amedisys announced in August 2023 that it received a request from the DOJ for more information regarding its planned sale to UnitedHealth (UNH).
UnitedHealth (UNH) in late June announced an agreement with VitalCaring Group to sell some of the two companies’ healthcare centers. The divestiture was being done to appease Department of Justice antitrust concerns over the more than $3B deal.