17 States Approve Centene's Acquisition Of WellCare - Quick Facts

(RTTNews) - Centene Corp. (CNC) and WellCare Health Plans Inc. (WCG) said that insurance departments of 17 states have approved Centene's pending acquisition of WellCare.

They received approval from the states of Alabama, Arkansas, Florida, Kansas, Kentucky, Maine, Michigan, Mississippi, Missouri, Nebraska, New Hampshire, North Carolina, Oklahoma, South Carolina, Tennessee, Vermont and Washington.

The companies continue to expect that the transaction will be completed by the first half of 2020.

Completion of the transaction remains subject to clearance under the Hart-Scott Rodino Act, receipt of required state regulatory approvals and other customary closing conditions.

In March 2019, Centene agreed to acquire WellCare in a cash and stock transaction for $305.39 per share for a total enterprise value of $17.3 billion.