Forbes June 24, 2019
Bruce Japsen

Shareholders of Centene and WellCare on Monday gave their blessing to the merger of the two health insurers in a deal that will create a national player in administering government-subsidized health benefits for millions of Americans.

The shareholder approval by both companies at separate meetings is a big milestone for the deal given there were reports some hedge funds wanted Centene to consider other options. Centene two months ago announced plans to buy WellCare for more than $15 billion in a deal that would expand the business of administering Medicaid benefits for poor Americans as well as private Medicare Advantage coverage.

On Monday, Centene said about 85% of the outstanding shares of Centene common stock voted with “over 99% voting...

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Topics: Insurance, Mergers & Acquisitions / JV, Payer, Trends
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