Why Teladoc and Livongo Stocks Plunged Today
Shares of Teladoc Health (NYSE: TDOC) and Livongo Health (NASDAQ: LVGO) fell sharply on Wednesday, after the two tech-focused healthcare companies announced their plans for a merger. By the close of trading, Teladoc and Livongo's stocks were down 19% and 11.4%, respectively.
Under the terms of the deal, Livongo's shareholders will receive 0.592 shares of Teladoc plus $11.33 in cash for each Livongo share they own. As of Aug. 4, the deal valued Livongo at $18.5 billion.
Teladoc and Livongo's stocks fell on news of a potential merger. Image source: Getty Images.
Source Fool.com
