Amedisys (NASDAQ:AMED) dropped 5.1% amid a report that a potential divestiture buyer in its planned sale to UnitedHealth (NYSE:UNH) has dropped out of the process as the companies worked to appease antitrust regulators.
A private equity-backed company that had agreed to buy more than 100 locations has dropped out, according to traders who cited a Capitol Forum report that was circulating on Friday. UnitedHealth (UNH) is trying to find another single buyer for the locations.
The latest update comes after a report earlier this month that a timing agreement between the companies and the Dept. of Justice had been pushed out in a sign that the companies may be making progress with the regulator in its review of the transaction.
Capitol Forum reported earlier this month that UnitedHealth (UNH) offered a sweetened package of divestitures to try to appease the DOJ for its review of the $3.3 billion deal. The companies had agreed to divest more than 100 locations to a private-equity backed buyer. The report said at the time that the DOJ was said to be having discussions with the companies, while also considering suing to block the combination.
Amedisys (AMED) announced in August that it received a request from the DOJ for more information regarding its planned merger with UnitedHealth (UNH).