An announcement on the deal may arrive in the next month or, at the latest, by the end of September, SVB Leerink analyst Ana Gupte told Business Insider. While Dealreporter first said in April that Anthem was a top contender in the sale, Ms. Grupte said Anthem’s recent acquisition of behavioral health provider Beacon Health Options likely takes the insurer out of the running.
Ms. Gupte anticipates that Magellan will be acquired for roughly $85 to $90 a share. As of June 10, Magellan had a market value of $1.6 billion, according to the report.
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