CVS Expects to Close Oak Street Acquisition in 1st Half of 2023

By Dean Seal

CVS Health Corp. now expects to close its acquisition of Oak Street Health Inc. in the first half of 2023.

The update was delivered Thursday morning in a securities filing from the healthcare giant, which had previously said that the all-cash $10.6 billion deal would be wrapped up sometime this year.

Oak Street made the same disclosure while announcing that it wouldn't hold its annual shareholder meeting next month in light of the pending acquisition, which still needs to be approved by Oak Street shareholders.

CVS agreed in February to acquire Oak Street and its network of senior-focused primary-care clinics for $39 a share.

Oak Street shares were up 4.8% at $38.78 in premarket trading.

Write to Dean Seal at [e-mail]

(END) Dow Jones Newswires

03-30-23 0828ET