Summary
UnitedHealth Group Inc. (UNH) filed an amendment to its Form 8-K on December 28, 2005, clarifying details regarding the previously announced acquisition of PacifiCare Health Systems, Inc. The amendment specifically addresses the outstanding 3% Convertible Subordinated Debentures of PacifiCare, amounting to approximately $106 million principal. Following the merger, these debentures are now convertible into roughly 5.5 million shares of UnitedHealth Group common stock and approximately $108 million in cash.
Key Highlights
- 1Amendment to a previously filed Form 8-K concerning the acquisition of PacifiCare Health Systems, Inc.
- 2Clarification on the status and terms of PacifiCare's outstanding 3% Convertible Subordinated Debentures due 2032.
- 3Approximately $106 million principal amount of PacifiCare's Convertible Notes remained outstanding as of the merger completion.
- 4The Convertible Notes are now convertible into approximately 5.5 million shares of UnitedHealth Group common stock.
- 5In addition to stock, approximately $108 million in cash will be issued upon conversion of the debentures.
- 6The merger was completed via a merger of PacifiCare with and into Point Acquisition LLC.