BUZZ-NeueHealth jumps on $1.3 bln go-private deal

Reuters
24 Dec 2024
BUZZ-NeueHealth jumps on $1.3 bln go-private deal

** Health insurer NeueHealth shares NEUE.N rise ~64% to $7.07 in extended trading

** NEUE to be taken private by an affiliate of New Enterprise Associates $(NEA)$ and consortium of investors for about $1.3 bln

** Co's shareholders will receive $7.33/shr in cash, a ~70% premium over NEUE's closing price on Monday

** Deal also includes 30-day "go-shop" period

** NEA is the largest shareholder in co with a 32.91% stake as of Sept. 30 – LSEG

** NEA and 12 existing shareholders have entered into rollover agreements to exchange NEUE common/preferred stock for newly issued equity in private co

** Up to Monday's close, NEUE is down 43.5% YTD

(Reporting by Rishi Kant in Bengaluru)

((Rishi.Kant@thomsonreuters.com))

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