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Fly News Breaks for April 30, 2019
HQY, WAGE
Apr 30, 2019 | 09:47 EDT
Cantor Fitzgerald analyst Steven Halper says HealthEquity (HQY) can probably offer around $50-$55 per share for WageWorks (WAGE) and have the transaction be about neutral to its adjusted earnings in fiscal 2020. HealthEquity confirmed this morning that it has made a proposal to acquire all of the outstanding shares of WageWorks for $50.50 per share in cash. The analyst believes the strategic fit is attractive, saying WageWorks would expand the range of HealthEquity's offerings to employers and health plans. He reiterates his Overweight rating on the latter with a $90 price target.
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