SXC Health Solutions Corp. plans to buy fellow pharmacy benefits manger Catalyst Health Solutions Inc. in a deal worth more than $4 billion, less than a month after competitor Express Scripts Inc. closed a $29.1 billion acquisition.
SXC Health said Wednesday it will pay $28 in cash and a portion of its stock valued at $53.02 per share for each share of Catalyst. That equals a purchase price of $81.02 per share, a premium of about 28 percent over Catalyst's Tuesday closing price of $63.54.
The companies valued the deal at $4.4 billion, including debt. Catalyst had about 50.2 million shares outstanding as of Feb. 1, which would equate to a total value for the deal of about $4.1 billion.
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