Deals
HealthEquity Makes $2 Billion Unsolicited Bid for WageWorks
- Proposal would unite the two large health-savings plan firms
- Deal may mark a strategy shift by HealthEquity, analysts say
WageWorks facility in Tempe, Arizona.
Photographer: Kristoffer Tripplaar/Sipa/AP Photo
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HealthEquity Inc. made an unsolicited offer to buy WageWorks Inc. for roughly $2 billion, in a deal that would combine two of the largest U.S. health-savings account operators.
Under the proposed terms of the transaction, HealthEquity would pay $50.50 a share in cash for WageWorks, which closed at $43.06 in trading on Monday. The offer was submitted to WageWorks on April 11, HealthEquity said in statement on Tuesday.