Why Amazon Is Sending Signify Health Shares Higher Today

Signify Health Inc SGFY shares are trading higher Monday following media reports that Amazon.com Inc AMZN may be interested in acquiring the company. 

According to a Wall Street Journal report, Signify is for sale via an auction, which could value the company at more than $8 billion. Bids are reportedly due in the coming weeks but it's possible a deal could be announced before Labor Day. Amazon is reportedly among the companies bidding for Signify Health.

CVS Health Corp CVS and UnitedHealth Group Inc UNH are among the other companies interested. 

Signify Health is a healthcare technology company that leverages advanced analytics, technology and nationwide healthcare provider networks to create and power value-based payment programs.

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SGFY Price Action: Signify Health is making new 52-week highs on Monday.

The stock was up 39.6% at $29.65 at press time, according to Benzinga Pro.

Photo: courtesy of Amazon.