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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Diplomat Pharmacy Inc | NYSE:DPLO | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 4.00 | 0 | 00:00:00 |
From Dec 2019 to Dec 2024
By Colin Kellaher
Shares of Diplomat Pharmacy Inc. (DPLO) tumbled more than 30% in premarket trading Monday after the provider of specialty pharmacy and infusion services agreed to be acquired by UnitedHealth Group Inc. (UNH) for about $303 million, or $4.00 a share, in cash.
The purchase price represents a roughly 31.2% discount to Friday's closing price of $5.81 for Diplomat.
The Flint, Mich., company, which will be merged into UnitedHealth's OptumRx pharmacy-care-services, said its board "carefully considered a variety of strategic options and concluded that joining OptumRx is in the best interests of our shareholders, employees and the clients and patients we serve."
Diplomat said its co-founder and chairman emeritus, Philip Hagerman, along with certain affiliates, have agreed to tender their roughly 23% stake in the company to UnitedHealth in the deal, which is expected to close in early 2020.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 09, 2019 07:18 ET (12:18 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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