WellCare Health Plans $800 million acquisition of Universal American

28/4/2017

Public acquisition

Value:

$ 800 million

Status:

Completed

Date:

28/4/2017

Overview:

WellCare Health Plans has completed its $800 million acquisition of fellow insurer Universal American.
The all-cash transaction valued Universal at $10 per share.
The price tag included Universal's debt.
The deal was first announced in November 2016.
Bank of America Merrill Lynch acted as financial adviser for WellCare and MTS Health Partners acted for Universal.

Kurt Stumpo - Journalist

Jurisdiction:

United States

Deal type:

Public acquisition

Practice area:

M&A

Governing law:

United States

Industry sector:

Insurance

Firms:

Bass Berry & Sims

Party: WellCare Health (Acquirer)

Lawyers: Angela Humphreys, Price Wilson, T Stephen Taylor

Kirkland & Ellis

Party: WellCare Health (Acquirer)

Lawyers: Laura Sullivan, Sarkis Jebejian

Paul Weiss Rifkind Wharton & Garrison

Party: Universal American (Target)

Lawyers: John Kennedy, Lawrence Wee, Peter Fisch, Robert Schumer

Sullivan & Cromwell

Party: BofA Merrill Lynch (Financial adviser)

Lawyer: Stephen Kotran

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