The companies said on Wednesday the deal, including debt, was valued at $17.3 billion. The offer of $305.39 per share represents a premium of about 32 percent to WellCare's closing price on Tuesday.WellCare's market capitalization was about $11.6 billion at Tuesday's close.
Shares of both companies fell earlier in the day after President Donald Trump's administration stepped up its attack on the Affordable Care Act, popularly known as Obamacare, by telling a federal appeals court it believes the health-care law is unconstitutional and should be struck down. SVB Leerink analyst Ana Gupte said the Obamacare program accounted for about 40 percent of Centene's earnings, while it is only in the low-teen percentages of WellCare's earnings. WellCare is more focused on Medicare and Medicaid plans, government healthcare programs for the elderly and poor.
You know healthcare is the biggest scheme in human history when a ‘small’ insurer is purchased for a mere $15.27 BILLION. 😳
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