WageWorks Confirms Receipt of Proposal from HealthEquity
April 29 2019 - 11:29PM
WageWorks, Inc. (“WageWorks”) (NYSE: WAGE), a leader in
administering Consumer-Directed Benefits, confirms that it has
received an unsolicited, non-binding proposal from HealthEquity,
Inc. (NASDAQ: HQY). The WageWorks Board of Directors, in
consultation with its financial and legal advisors, will continue
to carefully review the proposal in order to pursue the course of
action that is in the best interests of all WageWorks shareholders.
WageWorks’ Board and management team, consisting of our new CEO,
CFO, General Counsel and Executive Chairman, as well as two new
independent directors, remain intensely focused on executing the
recently articulated growth strategy, delivering the high-quality
service that our customers have come to expect, and creating
shareholder value, which has resulted in year-to-date returns of
over 50%.
About WageWorks WageWorks, Inc. (NYSE: WAGE) is
a leader in administering Consumer-Directed Benefits (CDBs).
WageWorks is solely dedicated to administering CDBs, including
pre-tax spending accounts, such as Health Savings Accounts (HSAs),
health and dependent care Flexible Spending Accounts (FSAs), Health
Reimbursement Arrangements (HRAs), as well as Commuter Benefit
Services, including transit and parking programs, wellness
programs, COBRA, and other employee benefits. WageWorks is
headquartered in San Mateo, California, with offices in major
locations throughout the United States. For more information,
visit www.wageworks.com.
Media Contact: Elizabeth Anderson WageWorks,
Inc. 972.984.0800 Elizabeth.Anderson@Wageworks.com
Investor Contact:Michael Smiley WageWorks,
Inc.650.577.5303 Michael.Smiley@wageworks.com
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