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UnitedHealth, Amazon, CVS Health and Option Care Health are bidding for Signify Health, according to people with knowledge of the proposals.
The highest offer came from UnitedHealth, which submitted a bid in excess of $30 a share. But Amazon’s offer is not far behind, Bloomberg reported.
Signify will hold a board meeting on Monday to discuss the offers. Final proposals are expected on Sept. 6, although a deal could come earlier if any of the parties preempt the sales process.
© Igor Golovniov/SOPA Images/LightRocket via Getty Images UnitedHealth Group, Amazon, CVS Health and Option Care Health are bidding for Signify Health. Igor Golovniov/SOPA Images/LightRocket via Getty Images
The Wall Street Journal first reported that Amazon has been bidding on Signify.
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Signify, a provider of technology and services for home health, is up for sale in an auction that could value it at more than $8 billion, The Journal noted.
Earlier this month, CVS was reportedly offering to purchase Signify as the retail company pursues efforts to expand in-home health services.
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None of the offers are finalized. The bidders could still change plans and Signify could choose to remain independent.
© Alex Tai/SOPA Images/LightRocket via Getty Images Earlier this month, CVS was reportedly offering to purchase Signify as the retail company pursues efforts to expand in-home health services. Alex Tai/SOPA Images/LightRocket via Getty Images
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Signify has a market cap of about $4.97 billion after its stock price on Friday closed at $21.20, data from Refinitiv revealed. The company’s stock has risen 6.7% since reports that CVS was considering making an offer.
Reuters contributed to this report.
