Humana Applies for Delisting as Ambea Moves to Squeeze Out Remaining Shares
HUM has more than doubled off its 52-week low of $163.11.
Summary
Humana has applied for delisting and called an extraordinary general meeting after Ambea, which now controls more than 90% of the shares, announced its intention to squeeze out the remaining shareholders. This is the final step in Ambea's takeover of Humana, forcing minority holders to sell at the squeeze-out price. The delisting application signals the end of Humana's public listing, a material event for any remaining shareholders. The extraordinary general meeting is set for October 30 to elect a new board. No prior news in the timeline covered this development.
At the time of this announcement, HUM was trading at $396.41 on NYSE in the Trade & Services sector, with a market capitalization of approximately $48.5B. The 52-week trading range was $163.11 to $428.88. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Reuters.