June 24, 2019 / 4:05 PM / a month ago

Centene, WellCare win shareholder support for $15.27 billion deal

June 24 (Reuters) - Shareholders of Centene Corp and WellCare Health Plans Inc voted in favor of a merger of the two health insurers, setting the stage for the creation of a major new player in government-sponsored healthcare plans.

The $15.27 billion buyout of smaller rival WellCare would help Centene bulk up its government-backed Medicare and Medicaid businesses.

The companies said they expect the deal to be completed by the first half of 2020. (Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Anil D'Silva)

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