Signify Health stock surges 36% on reports Amazon is bidding for the company
Signify is up for sale in an auction that could value it at more than $8 billion, the Journal reported. The company will hold a board meeting Monday to discuss the bids, and final bids are due around Labor Day, according to the Journal.
Signify, which provides technology to help with in-home care, has a market cap of roughly $4.97 billion.
UnitedHealth has submitted the highest bid for Signify, in excess of $30 a share, while Amazon’s offer is close behind, Bloomberg reported.
A deal would push Amazon further into healthcare. The retail behemoth last month announced it would purchase 1LifeHealthcare, the parent company of primary-care clinic company One Medical, for $3.9 billion.
Amazon’s stock was down more than 2% on Monday morning.