Signify Health Surges 40% on Report Amazon is Among Bidders
2022.08.22 14:02
Signify Health (SGFY) Surges 35% on Report Amazon (AMZN) is Among Bidders
By Senad Karaahmetovic
Amazon (NASDAQ:AMZN) is another company that is expected to bid for Signify Health (NYSE:SGFY), the Wall Street Journal reports today.
The e-commerce giant is rivaling CVS Health (NYSE:CVS) and other bidders as the race for the home-health-services provider heats up. UnitedHealth (NYSE:UNH) is another potential bidder that is “circling” around SGFY.
Bids are expected around Labor Day, although there’s always a chance a longing bidder could agree to a deal earlier.
While Signify is valued by the market at around $5 billion, the final deal that sees the company change ownership could exceed $8 billion, the DJ report added.
In case Amazon ends up winning the auction, it would mark the second consecutive loss for CVS. The latter was interested in acquiring 1LifeHealthcare (NASDAQ:ONEM) before Amazon agreed to a $3.9 billion deal for the primary-care practice business.
Shares of Signify Health are up 40% in premarket Monday after the WSJ report.
