Oak Street Health shares jump more than 35% on report that CVS is nearing acquisition
Oak Street Health Inc. (OSH)shares jumped more than 35% in late trading Monday, after a report that CVS Health Corp. (CVS)was nearing a $10.5 billion acquisition of the healthcare chain. The Wall Street Journal reported late Monday that the two parties were near a deal at roughly $39 a share, and it could be reported as early as this week; CVS is due to report earnings Wednesday morning. Previous reports said that the two companies were in talks for a deal of more than $10 billion. Oak Street Health shares closed Monday at $25.96 after a 2.5% decline, then spiked to more than $35.50 in the extended session. CVS shares ticked down about 0.3% in late trading.
-Jeremy C. Owens
(END) Dow Jones Newswires
February 06, 2023 19:10 ET (00:10 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.