Health insurer Centene is buying rival WellCare in a $17.3 billion deal as the healthcare dealmaking frenzy continues (CNC) | Markets Insider

06WOW! Another mega corp.

“The health insurer Centene on Wednesday said it was buying up its smaller rival WellCare in a $17.3 billion deal. The combination comes as consolidation in the healthcare space has been happening at a record clip, and a day after the Trump administration said it supported striking down the Affordable Care Act. The deal, which is expected to close in the first half of 2020, will pay WellCare shareholders $305.39 a share — 3.38 shares of Centene common stock and $120 in cash for each share of WellCare common stock they own, the companies said in a release. It is expected to create about $500 million of annual net cost synergies by year two, the press release said. Following the deal’s closing, Centene shareholders will own about 71 percent of the combined entity, with WellCare shareholders owning the rest.”

via Health insurer Centene is buying rival WellCare in a $17.3 billion deal as the healthcare dealmaking frenzy continues (CNC) | Markets Insider

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