LHC Group shareholders overwhelmingly approved UnitedHealth Group’s pending acquisition of LHC, another big and necessary step in a process that the two companies hope to complete in the second half of this year.
As part of the deal, UnitedHealth Group is set to pay $5.5 billion for LHC Group at $170 per share, Home Health Care News reports. For context, at close on Wednesday, LHC Group’s stock was just above $159 per share. At the time the deal was announced, it was at $168 per share.
The Lafayette, Louisiana-based LHC Group delivers home health, hospice and home- and community-based services, as well as facility-based care, across 37 states and the District of Columbia. It employs about 30,000 individuals.
Earlier this month federal regulators asked UnitedHealth and LHC for additional information related to their proposed deal, LHC disclosed in a filing with the U.S. Securities and Exchange Commission. Read more.
