HealthEquity makes $2 billion buyout offer for WageWorks
HealthEquity, a major provider of tax-advantaged health savings accounts, is looking to buy WageWorks for $2 billion, or $50.50 per share in cash. WageWorks has not accepted the offer yet.
Between the lines: HealthEquity CEO Jon Kessler founded WageWorks, which helps companies manage tax-free commuter benefits for employees in addition to health savings accounts. Kessler is an outspoken evangelist for HSAs, but critics have argued the savings accounts disproportionately help higher-income people, who have more money to save for health care costs.