UnitedHealth tells shareholders to reject Tutanota ‘mini-tender’ offer
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Contributor since / Followers
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3 weeks ago
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- A ‘mini-tender’ offer from Tutanota LLC to purchase up to 125K shares of UnitedHealth Group (NYSE:UNH) stock at $325/share should be rejected by shareholders, the health insurer’s management said.
- The offer is valid through June 23 at 5p ET, unless extended or terminated.
- UnitedHealth noted that Tutanota has put a condition on the offer that the closing price of shares must be above $325 on the last trading day before June 23, which was June 20. UnitedHealth closed at $302.01 then and $300.68 today.
- Shareholders should decline the offer, UnitedHealth explained, “because the offer is at a price below a conditional market price for UnitedHealth Group’s common stock and subject to numerous additional conditions.”