triple-s-stock-rockets-to-pace-premarket-gainers-after-$900-million-buyout-deal

Triple-S stock rockets to pace premarket gainers after $900 million buyout deal

Shares of Triple-S Management Corp.
GTS,
44.52%

soared 44.3% to pace all premarket gainers Tuesday, after the Puerto Rico-based health care services company announced an agreement to be acquired in a deal valued at $900 million by GuideWell Mutual Holding Corp. Under terms of the deal, Triple-S shareholders will receive $36.00 in cash for each Triple-S share they own, which represents a 48.8% premium to Monday’s closing price of $24.19. The deal is expected to close in the first half of 2022. Triple-S will become a subsidiary of GuideWell and will continue to operate under the Triple-S brand. “By partnering with a strong organization that shares our mission and approach, we will be well positioned to achieve our strategic goals, expand access and improve health care outcomes for all our members,” said Triple-S chief Executive Roberto Garcia-Rodriguez. The stock has gained 13.3% year to date through Monday, while the S&P 500
SPX,
0.20%

has advanced 19.3%.