(Reuters) -CVS Health Corp is seeking to buy Signify Health Inc as it looks to expand in-home health services, the Wall Street Journal reported on Sunday, citing sources.
Signify Health is working with bankers to explore strategic alternatives, including a sale, the Journal reported last week.
Initial bids are due this coming week, and CVS is planning to enter one, the report https://on.wsj.com/3bxLmit said.
Signify has a market cap of around $4.66 billion based on its stock closing price on Friday, according to Refinitiv calculations.
A spokeswoman for Signify Health said the company does not comment on market rumors. A spokesman for CVS said the company does not comment on rumors or speculation.
(Reporting by Ann Maria Shibu in Bengaluru; additional reporting by Herbert Lash in New York; Editing by Lisa Shumaker and Cynthia Osterman)