Triple-S Management Stock Is Moving Higher On GuideWell Buyout Deal

GuideWell Mutual Holding Corporation, parent of Blue Cross and Blue Shield of Florida Inc, will acquire Triple-S Management Corp GTS for an equity value of approximately $900 million.
The offer price of $36.00 per share in cash represents a premium of 49% to yesterday's closing price of $24.19.
The offer price also represents a premium of approximately 49% to Triple-S Management's 90-day volume-weighted average trading price.
Upon completion of the transaction, Triple-S Management will become a subsidiary of GuideWell. It will continue to operate under the Triple-S Management brand, led by its current management team.
The transaction is expected to close in the first half of 2022.
In total, GuideWell companies serve more than 45 million people in 45 states. Triple-S Management serves more than 1 million consumers in Puerto Rico.
Price Action: GTS shares are up 43.86% at $34.80 during the premarket session on the last check Tuesday.