Ahead of the New York bell, a big corporate story doing the rounds is that Envision Healthcare Corp (NYSE:EVHC) is to be acquired by private equity giant KKR & Co (NYSE:KKR).
Under terms, KKR will pay US$46 in cash for each share of the hospital group, which represent aa 5.4% premium to Friday's closing price of US$43.64.
That would give Envision, which has been carrying out a review of its options to grow, a market cap of around US$5.57bn (currently around US$5.3bn).
Envision Healthcare to be Acquired by KKR for $46.00 Per Share in All-Cash Transaction https://t.co/HuQXKlH4mJ
— Financial Buzz (@financialbuzz) 11 June 2018
Envision Healthcare shares added 2.98% before the bell to US$44.95, while KKR shares were also up a little in New York - 0.087%.
The deal is expected to close in the fourth quarter of this year.
Meanwhile, tech behemoth Amazon.com. Inc (NASDAQ:AMZN) shed 0.0071% before the New York bell amid news that a watchdog is calling on the company to improve conditions for factory workers in China.
New York based China Labour Watch released the report a nine-month investigation of working conditions at a factory owned by Hon Hai Precision Industry Co, known as Foxconn, which churns out such things as Echo speakers and Kindle e-readers.
Elsewhere, Genworth Financial Inc (NYSE:GNW) shares skyrocketed nearly 28% to US$4.87 before the bell after it was given approval from a US national security panel for its US$2.7bn buyout by China Oceanwide Holdings Group Co.
The Committee on Foreign Investment in the U.S described there being "no unresolved national security concerns".
Rent-A-Center Inc (NASDAQ:RCII) shares built up a 2.37% gain in pre-market to US$10.35 after it revealed it had ended a strategic review, and failed to find a suitable buyer.
The company said on Sunday the review was over along with a potential sale of the company.