By Denny Jacob
Signify Health Inc. shares rose 6% to $30.75 in after-hours trading Friday after The Wall Street Journal reported that CVS Health Corp. is in advanced talks to acquire the home-healthcare company for around $8 billion, citing people familiar with the matter.
CVS appears to have beat out other potential bidders such as Amazon.com Inc. and UnitedHealth Group Inc., the Journal said, noting that UnitedHealth never submitted an official bid. Bids are due around Labor Day, the Journal previously reported.
There is no guarantee that CVS will reach a deal for Signify, which has been exploring strategic alternatives since earlier this summer.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
September 02, 2022 18:37 ET (22:37 GMT)
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Read More: Signify Health Shares Rise 6% on WSJ Report of Advanced Talks with CVS