Catalyst Health Solutions (CHSI: Quote) announced Wednesday morning that it agreed to be acquired by SXC Health Solutions (SXCI: Quote) in a cash and stock transaction valued at approximately $4.4 billion. Catalyst shareholders will receive $28.00 in cash and 0.6606 shares of SXC stock for each Catalyst share.
Catalyst Health Solutions gapped open dramatically higher Wednesday, but traded in a range throughout the session. Shares finished up by 21.69 at $85.23 on the highest volume of the year. The stock surged to a new high for the year.
SXC Health Solutions gapped up sharply Wednesday and rose above the session's range going into the close. Shares finished up by 9.09 at $89.36 on the highest volume of the year. The stock climbed to its second consecutive new high for the year.
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by RTT Staff Writer
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