Forbes June 12, 2019
The merger of Centene and WellCare Health Plans has earned a vote of confidence from influential shareholder advisor Institutional Shareholder Services.
The endorsement by ISS of Centene’s proposed acquisition of WellCare is more good news for the transaction, which still faces a rigorous review by antitrust regulators, but has had reports some small hedge funds want a different deal. Earlier this month, Humana said it’s not interested in being sold to Centene, which some investors reportedly wanted to see.
But the ISS recommendation is generally a positive for mergers, particularly those like the Centene-WellCare deal that has faced some shareholder angst,according to some media reports.
“The company did not conduct an auction, and the merger consideration is below the company’s...
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