(RTTNews) - Centene Corp. (CNC) and WellCare Health Plans, Inc. (WCG) announced Friday that the insurance departments of Arizona, Connecticut, Georgia, Ohio and Texas have now also approved Centene's pending acquisition of WellCare, bringing the total number of states to approve the transaction to 24.
Completion of the transaction remains subject to clearance under the Hart-Scott-Rodino Act, receipt of the remaining 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 to create a premier healthcare enterprise focused on government-sponsored healthcare programs and a leader in Medicaid, Medicare and the Health Insurance Marketplace.
Centene and WellCare continue to expect that the acquisition will be completed by the first half of 2020.
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