healthcare giant cvs health corp cvs announced on wednesday a definitive agreement to buy primary healthcare provider oak street health inc osh what happened cvs said it would buy oak street in an allcash deal valued at 39 per share representing an enterprise value of about 106 billion this pershare price represents a 158 premium over the target company’s closing price of 3368 on tuesday see also best healthcare stocks incidentally reacting to a wall street report of a potential deal oak street shares ended tuesday’s session 2974 higher at one point in the session the stock hit an intraday high of 3463 the purchase price is about 502 higher than oak street’s closing price of 2596 on monday the session before the rumor broke out “combining oak street health’s platform with cvs health’s unmatched reach will create the premier valuebased primary care solution” said cvs health president and ceo karen lynch the deal is expected to close in 2023 by 2026 cvs expects oak street will likely contribute 2 billion in adjusted ebitda and synergy potential of 500 million over time arbitrage opportunity storytrading founder ben rabizadeh said there is an arbitrage opportunity available given oak street is trading under 35 he also flagged cano health inc cano talkspace inc talk and dariohealth inc drio as sympathy play   oak street traded 392 higher at 35 in premarket trading on wednesday   read next how apple could be a big beneficiary of the microsoftgoogle ai battle