Forbes June 24, 2019
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...