Agreed to be acquired by OptumRx, UnitedHealth Group's (NYSE:UNH) pharmacy-care services division for $4.00/share through a cash tender offer, following a careful review of strategic options by co's Board of Directors. The stock had established new record lows below $3 in mid-November following co's issuance of Q3 results, at which time co's pursuit of a comprehensive strategic alternatives process remained ongoing; by Friday's close, the stock had improved by circa +139% from those lows.
Shares have run up over the last month or so as investors hoped that management could find a buyer at a higher price.
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