Cano Health Shares Rally on Report of Exclusive Talks With CVS
October 07 2022 - 11:29AM
Dow Jones News
By Colin Kellaher
Shares of Cano Health Inc. jumped nearly 10% Friday after
Bloomberg reported that CVS Health Corp. is in exclusive talks to
buy the operator of primary-care medical centers.
CVS is currently conducting due diligence on Miami-based Cano,
Bloomberg reports, citing people familiar with the matter.
Representatives for CVS and Cano declined to comment, according
to the report.
The Wall Street Journal last month had reported that Humana Inc.
and CVS were circling Cano as healthcare heavyweights scramble to
snap up primary-care providers.
Analysts at Citi last month said a deal with Humana or CVS could
value Cano at $14 share.
Humana has a right of first refusal on any sale of Cano under an
agreement struck in 2019.
Cano shares were recently changing hands at $9.67, up 9.4%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 07, 2022 11:14 ET (15:14 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Cano Health (NYSE:CANO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cano Health (NYSE:CANO)
Historical Stock Chart
From Apr 2023 to Apr 2024
