District Court Denies Request to Enjoin Acquisition of Change Healthcare by UnitedHealth Group; Change Healthcare Announces Special Cash Dividend Of $2.00/Share

Author: Michael Horton | September 20, 2022 05:17pm

Yesterday, the U.S. District Court for the District of Columbia issued an opinion and final appealable order denying the request made by the U.S. Department of Justice and the States of New York and Minnesota for the Court to enjoin UnitedHealth Group Incorporated (NYSE:UNH) ("UnitedHealth Group") from acquiring Change Healthcare Inc. (NASDAQ:CHNG) (the "Company" or "Change Healthcare") pursuant to the proposed merger (the "Merger") between the Company and a wholly owned subsidiary of UnitedHealth Group, which will result in the combination of the Company and Optum Insight, a part of UnitedHealth Group. The opinion and final appealable order also require UnitedHealth Group and the Company to divest ClaimsXten to TPG Capital as proposed by UnitedHealth Group and the Company.

Today, the Company announced that it has declared a one-time special dividend of $2.00 in cash per each issued and outstanding share of common stock of the Company. The special dividend will be paid to stockholders of record of the Company's common stock as of immediately prior to the effective time of the Merger which pursuant to Nasdaq requirements will occur no less than ten (10) days from today, subject to the satisfaction of closing conditions. The special dividend will be payable on or about the first business day following the closing of the Merger.

Posted In: CHNG UNH