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...The cash-and-stock transaction values WellCare’s stock at $305.39, a 32 per cent premium based on the company’s closing stock price on March 26....
...That easily covers an offer premium of 19 per cent above Wellcare’s three-month average share price....
...Since the start of the year, WellCare shares have advanced 54.4 per cent, following a 46.7 per cent gain in 2017....
...Aetna had already announced the sale of that business, which provides prescription drug plans as part of Medicare, the US federal health insurance programme, last month to WellCare, another health insurer...
...(FT) News round-up Centene to buy WellCare in $17bn US healthcare deal (FT) UN accuses Blackstone of contributing to global housing crisis (Guardian) Unions warn Deutsche Bank over planned Commerzbank...
...Ms Gupte suggests Walmart, the grocery giant that has pharmacies in many of its stores, could follow suit by offering to buy Humana, for instance, and that drugstore chain Walgreens might make a bid for WellCare...
...WellCare Health fell 2.5 per cent and Centene and Molina Healthcare were both down around 1.5 per cent....
...WellCare Health dropped 0.4 per cent while Centene and Molina Healthcare were off by 0.4 per cent and 0.8 per cent, respectively....
...WellCare Health Plans, a Medicaid-based insurer, gained 8.8 per cent to $53.98 and Molina Healthcare moved 8.6 per cent higher to $23.16....
...Molina rose 8.6 per cent to $22.90, while WellCare rallied 8.9 per cent to $54.07....
...Investors in insurers that specialise in Medicaid (Amerigroup, Molina, Centene and Wellcare) seem to think the expansion will proceed apace anyway; shares in those companies all rallied sharply....
...On Monday, shares of smaller Medicaid insurers such as Molina Healthcare, Centene and WellCare rose more than 10 per cent in midday trading, signalling growing interest in the sector from investors....
...The deal boosted the sector, with shares of Humana, Universal American and WellCare all rising....
...■ Separately, the board of WellCare Health Plans, which is under investigation by federal and state authorities, named Charles Berg as executive chairman and Heath Schiesser as president and chief executive...
...Wellcare Health Plans jumped 21.7 per cent to $33.30 after net income increased 67 per cent in the third quarter....
...UnitedHealth was down 3.6 per cent at $46.11, and WellCare fell 5.2 per cent to $56. WellPoint and Aetna were lower by 1.2 per cent and 0.7 per cent at $72.89 and $40.24 respectively....
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