Oak Street, In CVS Crosshairs, Won't Comment on Market Activity

By Colin Kellaher

Oak Street Health Inc., which has seen its share price surge more than 30% amid a report that the primary-care provider is near a deal to be acquired by CVS Health Corp., on Tuesday declined to comment on the stock-market activity.

The Chicago company said it was contacted by the New York Stock Exchange in accordance with the bourse's usual practice, but that its policy is not to comment on unusual market activity.

The Wall Street Journal on Monday reported that healthcare giant CVS could announce a deal this week to buy Oak Street for about $39 a share, roughly 50% above Monday's closing price of $25.96.

Oak Street shares were recently changing hands at $33.99, up 31%, after hitting a 52-week high of $34.64 early in the session.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

February 07, 2023 10:52 ET (15:52 GMT)

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