Option Care agrees to $5.8B buyout by McKesson and CD&R
Confirmed $32.05/share buyout ends standalone uncertainty Option Care agreed to be acquired by McKesson and CD&R for $32.05 a share in cash, about a 37% premium, valuing it near $5.8 billion. The stock jumped 32.7% to close at $31, near the offer price, because the deal caps the painful standalone slump and gives shareholders a certain payout.
This is the single biggest new event and the main reason OPCH is moving now.
Takeover talks first surfaced, stock spiked 22% On October 5, the Financial Times reported McKesson and private equity firm CD&R were in advanced talks to buy Option Care for over $5 billion, with CD&R taking 51% and McKesson 49%. Shares jumped 22% after hours, starting the move that ended in the confirmed deal.
It is the first report of the deal that drove the period's sharp move, distinct from the final agreement.
Q2 earnings rose and full-year outlook reaffirmed Option Care reported second-quarter net income up 6.7% to $53.9 million and adjusted earnings per share up 9.8% to $0.45, while reaffirming full-year 2026 revenue of $5.675–$5.775 billion. Shares rose over 6% as results beat worries and guidance held steady.
It shows the underlying business was still growing before the buyout, a real support for the stock.
Fund exit flagged reimbursement and volume pressures Madison Small Cap Fund sold its Option Care stake, citing reimbursement delays, falling therapy volume, biosimilar pricing pressure and the loss of a profitable specialty drug. The stock had fallen 25% over 52 weeks, showing why a buyout at a premium was welcomed by long-suffering holders.
It is the main counterweight explaining the weak standalone backdrop behind the buyout.