UnitedHealth Urges Shareholders To Reject Tutanota "Mini-Tender" Offer Over Undervalued Terms, Added Conditions

UnitedHealth Group (NYSE:UNH) today announced that it recently became aware of an unsolicited "mini-tender" offer by Tutanota LLC (Tutanota) to purchase up to 175,000 shares of UnitedHealth Group's common stock, representing significantly less than 1% of UnitedHealth Group's common stock outstanding.

The offer price of $325.00 per share is conditioned on, among other things, the closing price per share of UnitedHealth Group's common stock exceeding $325.00 per share on the last full trading day before the offer expires. This means that unless this condition is waived by Tutanota, UnitedHealth Group shareholders who tender their shares in the offer will receive a below-market price. Tutanota further states in its offering documents that it expects to extend the offer for successive periods of 45 to 180 days until the market price of the shares exceeds the offer price.

UnitedHealth Group recommends that shareholders do not tender their shares in response to Tutanota's offer because the offer is at a price below a conditional market price for UnitedHealth Group's common stock and subject to numerous additional conditions. Shareholders who have already tendered their shares may withdraw them at any time by providing notice in the manner described in the Tutanota offering documents prior to the expiration of the offer, which is currently scheduled for 5 p.m. EDT, on Monday, June 23, 2025, unless extended or earlier terminated.

UnitedHealth Group does not endorse Tutanota's unsolicited mini-tender offer and is not associated in any way with Tutanota, its mini-tender offer, or its mini-tender offer documents.