Humana (HUM), the health care company offering insurance products and health and wellness services, announced on Monday that it will acquire Metropolitan Health Networks (MDF). Under the terms of the deal shareholders in Metropolitan will receive $11.25 in cash for each of their shares. Humana, which furthermore announced its third quarter results on Monday saw its shares rise by 0.4%.
The Deal
Humana announced that it has entered into a definitive agreement in which it will acquire Metropolitan in a transaction valued at approximately $850 million, including transaction costs. Metropolitan provides and coordinates Medicare for approximately 87,500 beneficiaries mostly in Florida.
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