8/22/2022, 6:46 PM (Source: TeleTrader)
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Signify Health up 40% as bidding war intensifies

Signify Health Inc. soared over 40% at one point on Monday following media reports that Inc. and UnitedHealth Group Inc. have joined the bidding war to take over the home healthcare services company.

Signify could end up with an $8 billion valuation in a potential transaction, substantially higher than its market cap, The Wall Street Journal reported. Earlier this month, the same newspaper reported that CVS Health Corporation is also interested in the Signify acquisition. It is expected that the offers start coming in early September.

Signify jumped 33.77% at 12:28 pm ET, selling for $28.35.

Baha Breaking News (BBN) / MS