Forbes May 28, 2019
Speculation that Centene will abort its merger with WellCare Health Plans and submit to a takeover by Humana may be subsiding among big institutional investors who remain supportive of the deal.
Reports last week that a small shareholder, Third Point LLC, wants Centene “to consider selling itself” before buying WellCare aren’t going to be enough to change Centene management’s mind. Centene and WellCare last week scheduled a June 24 vote on the merger and say they aren’t backing away from the deal.
Meanwhile, there’s yet to be a big institutional shareholder that has come out against the Centene-WellCare deal. Third Point holds about 1.5% of Centene’s shares and is reportedly buying shares to increase its stake. Third point has no...
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