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TheStreet Open House

Tender Offer Begins For Remaining Amil Shares

Stocks in this article: UNH

UnitedHealth Group (NYSE: UNH) and Amil Participações S.A. (BM&FBOVESPA: AMIL3) announced today that the companies have begun the final phase of the steps required to complete their combination. UnitedHealth Group (via an owned and controlled Brazilian affiliated entity) has commenced an offer to purchase the remaining public Amil shares at the previously designated price of R$30.75 per share, plus interest applicable under Brazilian law.

The offer will remain open until April 23, 2013 and all consenting shares registered with a brokerage firm authorized to operate in the Bovespa on or prior to April 22, 2013 will be purchased. After completion of the tender offer, Amil intends to deregister as a public company and delist its shares from the Novo Mercado segment of the BM&FBOVESPA, subject to the satisfaction of certain requirements under Brazilian law.

Regulatory approval of the initial acquisition was granted by the Brazilian Healthcare Regulatory Agency, ANS, on October 22, 2012. UnitedHealth Group previously purchased approximately 65 percent of Amil’s outstanding shares from controlling shareholders, management and in the open market.

Amil is Brazil’s largest health care company, providing health and dental benefits, hospital and clinical services, and advanced care management resources to more than five million people. Outside the United States, Brazil is the largest and fastest growing private health care market in the Americas. UnitedHealth Group is the leading health benefits and services company in the United States and a leader in innovative approaches to improving consumer health and advancing the health care system.

Combining Amil, the market leader in Brazil, serving a rapidly expanding market of nearly 200 million people, with UnitedHealth Group’s diversified and deep experiences and capabilities is expected to create a compelling growth and value creation opportunity for the combined enterprises. Specifically, this combination creates a new growth platform for UnitedHealth Group’s benefits and services companies and enables Amil to bring advanced technology, a tradition of consumer-focused innovation, modern service and clinical programs to further advance health care in Brazil.

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