WellCare Gives More Than $110,000 to the American Diabetes Association in Honor of American Diabetes Month

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WellCare Health Plans (WCG) to Acquire Universal American (UAM) for $10/Share

November 17, 2016 7:16 AM EST

WellCare Health Plans, Inc. (NYSE: WCG) and Universal American Corp. (NYSE: UAM) announced today that they have entered into a definitive agreement under which WellCare will acquire Universal American in an all cash transaction valued at $10.00 per share of common stock. This represents a 34 percent premium to Universal American's 60-day volume-weighted average closing stock price as of November 16, 2016.

WellCare expects to retire Universal American's outstanding preferred shares shortly after closing and, in connection with the merger, Universal American's outstanding convertible notes will become convertible and holders... More