Oxford
Holders Back UnitedHealth Deal |
|
|
|
Oxford Health Plans' (OHP:NYSE)
shareholders approved the New York metro area health insurer's pending
acquisition by UnitedHealth (UNH:NYSE). |
|
The companies agreed in April
to a deal in which Minneapolis-based UnitedHealth will issue some $4.8 billion
in cash and stock to acquire Oxford. The pact came just days after another New
York-area HMO, WellChoice (WC:NYSE), called off talks to acquire Oxford, saying
the price was too steep. |
|
Oxford stockholders will get
0.6357 UnitedHealth share and $16.17 in cash for each Oxford common share.
Completion of the merger is subject to receipt of regulatory approvals and
satisfaction of other customary conditions, Oxford said. |
On Wednesday, Oxford rose 68
cents to $53.98, while UnitedHealth advanced 87 cents to $60.95.
|
Click here to return to the main articles menu.
|
