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US: HealthEquity makes bid for WageWorks

By  |  April 30, 2019

HealthEquity made an unsolicited offer to buy WageWorks for roughly $2 billion, in a deal that would combine two of the largest US health-savings account operators.

Under the proposed terms of the transaction, HealthEquity would pay $50.50 a share in cash for WageWorks, which closed at $43.06 in trading on Monday. The offer was submitted to WageWorks on April 11, HealthEquity said in statement on Tuesday.

The acquisition would create a larger provider of health savings accounts and additional consumer-directed benefits including flexible spending, health reimbursement plans and commuter accounts, HealthEquity said.

Full Content: Wall Street Journal

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