HealthEquity Confirms Proposal To Buy WageWorks For $50.50/shr In Cash

(RTTNews) - HealthEquity Inc. (HQY) confirmed Tuesday that it proposed to acquire WageWorks Inc. (WAGE) for $50.50 per share in cash.

HealthEquity said it has provided a definitive debt financing commitment letter to WageWorks, and has also indicated a willingness to include HealthEquity stock as a component of transaction consideration.

On Monday, WageWorks said that it received an unsolicited, non-binding proposal from HealthEquity. WageWorks Board would continue to carefully review the proposal in order to pursue the course of action that is in the best interests of all WageWorks shareholders.