Two Companies Agreed to Buy a Health Company for $32.05 a Share
What was agreed
CD&R and McKesson Corporation have signed an agreement to buy Option Care Health for $32.05 per share in cash, or about $5.8 billion in total. CD&R The agreement was announced on October 6, 2026. Reuters
Option Care Health provides infusion therapy, which gives patients medicine through a drip. Reuters CD&R and McKesson are acting together as joint buyers in the signed agreement. CD&R The price is fixed for each share.
What was reported first
The signing came after an October 5 report that McKesson and CD&R were close to a deal of more than $5 billion for Option Care Health. Financial Times That report said the expected value was more than $5 billion including debt. Financial Times The October 6 announcement replaced that early range with a firm price.
What to watch next
The broader context here is the move from an estimate to a firm price. Think of it like buying a house: $32.05 is what shareholders get per share, while $5.8 billion is like the house price plus the mortgage. The total depends on debt, leftover cash, deal fees and total share count at closing. Until the proxy or offer documents, the official papers for shareholders, spell out that math, $32.05 is the number to use.
In my view, the two-buyer setup needs close attention. The pair will split costs, borrowing and control, and they have different financial limits and profit goals. That can affect who pays what, how debt is used, voting rights, and who runs the company afterward. None of those details are disclosed yet. They will be in the merger agreement and any related ownership or control papers.
Looking at what this means for execution, signing is only the start. What matters now is conditions, timing and whether the money is secured, not why buyers like the company. The final agreement should list the outside date (the closing deadline), closing conditions, breakup fees both ways, and rules for government approval or a shareholder vote. Price is set. Focus moves to finishing.
For valuation work, stick with $32.05 as the contract price. Treat $5.8 billion as an approximate headline, not an exact company value worked out on its own. The earlier more-than-$5-billion including-debt report is now just background.
Looking ahead, paperwork will shape the gap between the market price and $32.05. With cash, it comes down to whether and when the deal closes. So filings and merger details matter more than further debate over price.
