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One Medical (ONEM) Stock Surges 70% on Amazon Buyout

  • One Medical (ONEM) stock is taking off on an acquisition deal with Amazon (AMZN).
  • This will have the e-commerce giant paying $18 per share for ONEM stock.
  • One Medical operates a chain of primary healthcare clinics.
ONEM Stock - One Medical (ONEM) Stock Surges 70% on Amazon Buyout

Source: MACH Photos / Shutterstock.com

One Medical (NASDAQ:ONEM) stock is rocketing higher on Thursday following news of a buyout by Amazon (NASDAQ:AMZN).

According to a press release, Amazon is going to acquire the chain of primary healthcare clinics for $18 per share. That’s about a 76.8% premium compared to the closing price of $10.18 per share for ONEM stock on Wednesday.

That purchase price has the total value of the deal for One Medical reaching $3.9 billion. This includes the company’s current net debt. Investors will note that Amazon is using cash to fuel its acquisition of One Medical.

Amazon isn’t planning to shake up the leadership team at One Medical after the deal is complete. Instead, current CEO Amir Dan Rubin will continue to lead the company after its joins the e-commerce giant.

Neil Lindsay, SVP of Amazon Health Services, said the following about the deal:

Together with One Medical’s human-centered and technology-powered approach to health care, we believe we can and will help more people get better care, when and how they need it. We look forward to delivering on that long-term mission.

The deal between One Medical and Amazon still needs to complete customary closing conditions. That includes getting approval from regulators and shareholders. The two didn’t say when they expect the deal to close.

ONEM stock is experiencing heavy trading today on the buyout news. As of this writing, more than 40 million shares have been traded. To put that in perspective, the company’s daily average trading volume is closer to 2.6 million shares.

ONEM stock is up 69.4% as of Thursday morning.

There’s more stock market news worth checking out below!

We’ve got all the most recent stock market news traders need to know about for Thursday! That includes what’s happening with shares of United Airlines (NASDAQ:UAL), Shopify (NYSE:SHOP), and Nokia (NYSE:NOK) stock today. You can learn all about that at the following links!

More Thursday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/07/one-medical-onem-stock-surges-70-on-amazon-buyout/.

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