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Catamaran, formed from the merger of SXC Health
Solutions and PBM Catalyst Health Solutions in 2012, helps the
administrators of group healthcare plans reduce their
prescription drug costs.
UnitedHealth's offer of $61.50 per share represents a premium of
27 percent to Catamaran's Friday close on the Nasdaq.
Catamaran's stock was trading at $60.50 premarket on Monday,
while UnitedHealth's was up nearly 3 percent.
After the deal, UnitedHealth expects to fill more than one
billion prescriptions, the companies said.
The deal value is based on Illinois-based Catamaran's total
outstanding diluted shares as of Dec. 31.
The transaction is expected to close in the fourth quarter of
2015 and add about 30 cents per share to UnitedHealth's profit
in 2016, the companies said.
(Reporting by Sneha Banerjee in Bengaluru; Editing by Savio
D'Souza)
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