Why Shares of Triple-S Management Are Jumping Today
Shares of Triple-S Management (NYSE: GTS), a leading provider of healthcare services in Puerto Rico, were up 45% as of 12:15 p.m. EDT after the company announced it was combining with GuideWell Mutual Holding. In the deal, GuideWell will acquire all of the outstanding shares of Triple-S Management for $36 per share.
GuideWell is already the parent company of Triple-S Management, as well as Blue Cross Blue Shield of Florida. The non-profit holding company serves more than 45 million people in 45 states. GuideWell CEO Pat Geraghty said he believes there will be significant value creation as the organization's core operations are expanded. As a result of the deal, Triple-S officially becomes a subsidiary of the firm.
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Source Fool.com
