UnitedHealth Group Inc. disclosed Friday that it agreed to launch a tender offer to buy Empresas Banmedica, a health care provider serving Chile, Colombia and Peru, for the equivalent of $2.8 billion. In a filing with the Securities and Exchange Commission, UnitedHealth said it will offer $2,150 Chilean pesos for 100% of the Empresas Banmedica shares outstanding, which would value the company at CLP$1.7 trillion, or $2.8 billion at recent exchange rates. The tender offer is expected to commence on Dec. 27 and end on or about Jan. 25, with the merger deal expected to close in the first quarter of 2018. UnitedHealth’s stock, which was still inactive in premarket trade, has soared 38.5% year to date, while the SPDR Health Care Select Sector ETF has rallied 20.7% and the Dow Jones Industrial Average has climbed 25.4%.
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