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id: 500, Created by Stan Vick Chase, Scout
Cano Health after-M&A-talks Sell Off Case
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On December 7, 2022, Bloomberg reported that Daniel Loeb’s Third Point sold its stake in Cano Health Inc. (CANO) amid mounting concerns about the healthcare provider’s liquidity.
Further, BBG reported that some of Cano Health’s biggest creditors are in the early stages of organizing ahead of potential debt discussions.
Earlier, after CANO reported weaker Q3 results and revised full-year guidance, multiple equity analysts cut their ratings on the Company. Cano had $24 million of cash on hand, down from roughly $163 million at the end of last year.
Going back to September 22, 2022, The Wall Street Journal reported that CVS Health and Humana were in talks to buy out Cano. Since then, there's been no solid news about the matter, so it rises questions about whether these deals were on agenda at all.
Taking all the facts into account, Investors have all grounds to suspect that multiple violations took place starting from misleading statements, stock price manipulations, and fraud.
Failure to Disclose,
Breach of Fiduciary duty,
Shock Event Date
07 December 2022