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Cantaloupe, Inc. (NASDAQ:CTLP), a payment and technology solutions company with a market capitalization of $795 million, announced Thursday that both the company and 365 Retail Markets, LLC received a second request for additional information from the U.S. Federal Trade Commission (FTC) regarding their proposed merger. The request was issued on Wednesday under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. According to InvestingPro data, Cantaloupe maintains strong financial health with a current ratio of 1.86, indicating solid liquidity as it navigates this merger process.
The second request extends the waiting period for regulatory review. The waiting period will now continue until 30 days after both Cantaloupe and 365 Retail Markets have substantially complied with the FTC’s request, unless it is terminated earlier by the agency.
Cantaloupe previously disclosed on June 15, 2025, that it had entered into a merger agreement with 365 Retail Markets and related entities. Under the terms of the agreement, 365 Retail Markets would acquire Cantaloupe, with Cantaloupe becoming a wholly-owned indirect subsidiary. For deeper insights into Cantaloupe’s valuation and comprehensive analysis, investors can access the detailed Pro Research Report available on InvestingPro.
The completion of the merger is subject to several closing conditions, including regulatory clearance under the HSR Act. Cantaloupe stated that both parties are cooperating with the FTC in its review.
Assuming regulatory clearance and satisfaction or waiver of other closing conditions, Cantaloupe and 365 Retail Markets currently expect to complete the merger in the first half of 2026.
This information is based on a statement made in a press release filed with the Securities and Exchange Commission.
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