jetcityimage/iStock Editorial via Getty Images Amedisys ( NASDAQ: AMED ) rose 1.3% amid a report about the status of the Justice Department's review of its planned sale to UnitedHealth ( NYSE: UNH ). UnitedHealth has been working the DOJ and pushed out the timing agreement that had previously been agreed to, according to traders, who cited a CTFN report that circulated on Monday that cited a source familiar with the deal and another person.
The move may signal progress between the government and the parties on the antitrust review and proposed remedy. The latest update comes after a report earlier this month that UnitedHealth ( UNH ) offered a sweetened package of divestitures to try to appease the DOJ for its review of the $3.3 billion deal.
The companies have agreed to divest more than 100 locations to a private-equity backed buyer, according to a Capitol Forum tweet on Wednesday about an article from Tuesday. The DOJ is said to be having discussions with the companies, while also considering suing to block the combination , according to the report earlier this month. The DOJ is expected to make a decision soon.
Amedisys ( AMED ) announced in August that it received a request from the DOJ for more information regarding its planned merger with UnitedHealth ( UNH ). More on Amedisys Amedisys gains amid report of sweetened divestiture offer in UnitedHealth deal DOJ case against UnitedHealth could take years to resolve, says BoA Seeking Alpha’s Quant Rating on Amedisys Histor.