Humana Surges 25% on Ambea $304M Bid

Humana Surges 25% on Ambea $304M Bid

Ambea announced a recommended takeover offer for Swedish care provider Humana AB, valuing the target at approximately 2.96 billion Swedish crowns, equivalent to $304 million. The proposal consists of a cash component of SEK 20 per Humana share together with 0.305 Ambea shares for each Humana share, which together value Humana at SEK 62.30 per share – a premium of roughly 27% compared with Humana's closing price on 26 June. In addition, the offer contains a contingent value right that may add up to SEK 4.36 per share, the payout of which depends on the outcome of Humana's ongoing legal dispute with the Swedish state concerning a revoked personal‑assistance licence. Humana's board voted unanimously in favour of the bid, and shareholders representing about 42% of the company's equity have already indicated their intention to accept the proposal. Ambea disclosed that, following completion of the transaction, it intends to divest Humana’s Personal Assistance Sweden business. The market reacted strongly, with Humana shares climbing around 25% to SEK 61.40 by 07:26 GMT in Stockholm trading.