Friday, November 18, 2016
Health insurer WellCare Health Plans Inc said on Thursday it would buy smaller peer Universal American Corp for about $600 million.
WellCare will pay about $10 per Universal American share in cash, representing a 12.5 percent premium to the stock's Wednesday close.
WellCare said it would also assume about $200 million in Universal American's preferred shares and convertible debt.
Source : finance.yahoo.com
