Monitor for stockholder vote timing and regulatory clearances (HSR, state healthcare approvals) as key catalysts toward the expected H1 2027 close. The spread to the $32.05 deal price will reflect deal risk and time value.
Price Chart
Executive Summary
Option Care Health has entered into a definitive agreement to be acquired by an investor group led by CD&R (majority owner, ~51%) and McKesson (minority owner, ~49%) for $32.05 per share in cash, representing a total enterprise value of approximately $5.8 billion and a ~37% premium to the last closing price. The transaction is expected to close in the first half of 2027, subject to stockholder approval, HSR clearance, and certain healthcare regulatory approvals. The company has withdrawn its 2026 financial guidance and will not host a Q3 2026 earnings call.
Key Financial Metrics
Key Facts
- Acquisition price of $32.05 per share in cash, a ~37% premium to the October 5, 2026 closing price
- Total enterprise value of approximately $5.8 billion
- CD&R will hold a majority interest (~51%); McKesson will invest ~$1.4 billion for a minority interest (~49%)
- Equity commitments of $2,873,295,853 from CD&R Fund XII and McKesson; debt commitment of $3.15 billion plus $500M revolver
- Company termination fee of $145,963,976; Parent termination fee of $291,927,951
- Transaction expected to close in first half of 2027; OPCH will be delisted from Nasdaq
- Company withdrawing previously disclosed 2026 financial guidance and will not host Q3 2026 earnings call
Financial Impact
All-cash acquisition at $32.05/share, ~37% premium, ~$5.8B enterprise value
Risk Factors
- Failure to obtain stockholder approval or required regulatory approvals (HSR, state healthcare)
- Termination of the merger agreement, triggering a $145.96M company termination fee
- Potential for a superior proposal triggering a company board recommendation change
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-113904 |
| Document: tm2627097d1_8k.htm | 0001104659-26-113904 |
| Document: tm2627097d1_ex99-1.htm | 0001104659-26-113904 |
| Document: 0001104659-26-113904-index-headers.html | 0001104659-26-113904 |
| Document: 0001104659-26-113904-index.html | 0001104659-26-113904 |
| Document: 0001104659-26-113904.txt | 0001104659-26-113904 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | DEFA14A | $31.01 $31.12 | ▲ +0.35% | ▲ +1.34% | $31.27 (+0.84%) |
Oct 6, 2026 21d ago | DEFA14A | $31.00 $31.10 | ▲ +0.32% | ▲ +0.46% | $31.27 (+0.87%) |
Oct 6, 2026 21d ago | 8-K | $31.00 $31.10 | ▲ +0.32% | ▲ +0.46% | $31.27 (+0.87%) |
Jul 29, 2026 12w ago | 8-K | $23.93 $23.70 | ▼ −0.96% | ▼ −6.49% | $31.27 (+30.67%) |
Jun 4, 2026 20w ago | Press Release | $20.07 $20.78 | ▲ +3.54% | ▲ +6.09% | $31.27 (+55.80%) |
May 12, 2026 24w ago | 8-K | $19.59 $19.69 | ▲ +0.51% | ▲ +0.43% | $31.27 (+59.62%) |
May 4, 2026 25w ago | Insider Cluster | $21.30 $19.59 | ▼ −8.03% | ▼ −10.02% | $31.27 (+46.81%) |
May 4, 2026 25w ago | Insider Cluster | $21.30 $19.59 | ▼ −8.03% | ▼ −10.02% | $31.27 (+46.81%) |
May 4, 2026 25w ago | Insider Cluster | $21.30 $19.59 | ▼ −8.03% | ▼ −10.02% | $31.27 (+46.81%) |
Apr 8, 2026 28w ago | DEFA14A | $29.47 $28.33 | ▼ −3.87% | ▼ −7.05% | $31.27 (+6.11%) |
US Market Status
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