UnitedHealth Group’s (NYSE: UNH) deal for LHC Group Inc. (Nasdaq: LHCG) is reportedly inching closer towards closing.
Specifically, a report from Dealreporter – citing sources familiar with the matter – suggests it is on track to close next month. The $5.4 billion deal was initially announced in late March.
In June, both parties received a request from the Federal Trade Commission (FTC) for more information regarding the acquisition. A month after, each received a second inquiry from the agency, supposedly centered around worker pay in home health care.
Overall, the Lafayette, Louisiana-based LHC Group has about 29,000 employees that deliver home health, hospice, home- and community-based services and facility-based care in 37 states and the District of Columbia.
LHC Group’s stock rose Tuesday after news of the deal’s progress. UnitedHealth Group is set to acquire LHC Group for $170 per share.
Dealreporter also wrote that “the parties are said to have substantially complied with the FTC’s second request” and that the “antitrust agency is expected to close the probe quietly.”
The highly acquisitive UnitedHealth Group also received a win in September when a federal judge denied the U.S. Department of Justice (DOJ) from blocking its pending $13 billion acquisition of Change Healthcare (Nasdaq: CHNG).