While the activist hedge fund confirmed on Friday that it has a financial position in Centene, neither the reason for its involvement nor the size of the stake could be immediately determined by CNBC.
The Wall Street Journal reported earlier in the day that Loeb and his partners at Third Point want the company to consider selling itself before shelling out $15.3 billion on WellCare. The price tag represented a 32% premium to WellCare's stock price prior to the deal's announcement in March. The Journal also reported through anonymous sourcing that other activists investors including Keith Meister's Corvex Management and Sachem Head Capital Management have accrued stakes in Centene. For Third Point — one of Wall Street's marquee activist investors in the U.S. and around the world — its involvement at the company likely adds gravity to any dissenting shareholder opinions on the Centene-WellCare transaction.
"When considering M&A transactions, the Centene board considers any and all alternatives towards shareholder value creation," Marcela Hawn, Chief Communications Officer at Centene, told CNBC in an email. "We believe the transaction with WellCare is in the best interest of shareholders as it will deliver significant upside growth and profitability. We remain as committed to our combination with WellCare today, as we did when we announced it on March 27.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Daniel Loeb’s Hedge Fund Wants Centene to Consider Selling ItselfDaniel Loeb’s Third Point has built a stake in Centene and wants the health insurer to consider selling itself before spending $15.3 billion on its deal to purchase WellCare Health Plans. Sorry you can’t be both a serious business source and a source for the GOP to spread their political message. Pick one.
Source: WSJ - 🏆 98. / 63 Read more »
Dow ends with more than 250-point loss as investors size up trade war riskU.S. stocks ended a tumultuous session with sharp losses on Thursday after Wall Street dawned on the possibility that a prolonged U.S.-China trade spat may... Not $TSLA, it’s up 1.43% today when NASDAQ is down -1.58%, so imagine when the NASDAQ swings back up..
Source: MarketWatch - 🏆 3. / 97 Read more »
West Point to graduate record number of black female cadetsThe class of cadets preparing to toss their caps in the air at the U.S. Military Academy's graduation ceremony Saturday includes a record 34 black women, a sign of concerted efforts to diversify West Point. Diversify these n%! Proud to be cannon fodder .. or worse .. a useful tool for the warmongers on their murderous path? Congratulations to these fine cadets! Make your country proud, ladies.
Source: AP - 🏆 728. / 51 Read more »
Parents of dead West Point cadet can use his sperm to make baby, judge rulesIt's unclear whether doctors will go along with the wish from parents of West Point Cadet Peter Zhu, even one granted by a court. If you people do not understand how fucked this world is and how quickly we are moving backwards as an entire society then you are more than likely part of the problem. Shit like this is wrong I think it’s just creepy. His uh “genetic material” wasn’t stored somewhere and his parents were looking to gain access to it. No, they had someone jerk him off in a coma. It’s a weird precedent. What if he didn’t want children? Is a child born to a dead dad ethical?
Source: USATODAY - 🏆 100. / 63 Read more »
Elephant seals take over beach at Point Reyes for the second time this yearThe National Park Service closed entry to Drakes Beach after storms and high tides brought 200 elephant seals ashore. Not if you just leave them alone! It’s seal beach now 💏
Source: latimes - 🏆 11. / 82 Read more »
West Point to graduate record number of black female cadetsThe class of cadets graduating from the U.S. Military Academy on Saturday includes 34 black women, a record number that's a sign of concerted efforts to diversify West Point's Long Gray Line. Of course.... I hope this wasn't their class photo. How unprofessional! And only 34 of them needed afformativeactiom to get in.
Source: ABC - 🏆 471. / 51 Read more »
College student falls to her death from cliff while taking picturesGet breaking national and world news, broadcast video coverage, and exclusive interviews. Find the top news online at ABC news. Selfies are costing alot these days darwinism. good riddance But did she get the shot?
Source: ABC - 🏆 471. / 51 Read more »
Diversity at West Point, sloths vs. snakes, sinking island: News from around our 50 statesConnecticut fugitive says he’ll turn self in if post gets enough likes, rescued seals set out to sea in Maryland, and more we're lowering the standards too much and jeopardizing our nation's security in the name of diversity. give me a break. Scarry they are all This is Great to see but progress could be slowed by Millenials in general not wanting to go into the military. The life these 34 young women chose is not one everyone chooses. Less than 3% will do this so this is not an accurate comparison. How many apply and graduate is better
Source: USATODAY - 🏆 100. / 63 Read more »
The Trump Administration Just Released Its Third Rollback Of Transgender Protections This WeekA draft rule released Friday would undo nondiscrimination protections in health care for transgender people as well as women who have had abortions. This is outrageous.... Oh buzz feed full of such trash. How much is Soros paying you to promote lies?🙄 Another website not worth the electricity to transmit it message. Tump2020 People go find the bill and read it yourself! Don't trust any MSM for truth.
Source: BuzzFeed - 🏆 730. / 51 Read more »
'We’re at an inflection point': More Dems pressure Pelosi on impeachment'I trust the speaker is taking a measured approach to ensure that we're moving everyone forward,' Ocasio-Cortez said of Pelosi's approach to impeachment proceedings Now is good RepCohen repcohen should know rape when he sees it. He’s be raping the city of Memphis and it’s constituents for years. He’s raped their pride,dignity desire to succeed and made them destined for welfare.Horrible excuse for a civil servant. These criminal politicians are not allowed to use taxpayer money to conduct oppo research. The behavior is above belief . They all need 10 years of financial, email and documents investigated. It is clear they are criminals, we just have to find it. nytimes washingtonpost WSJ
Source: politico - 🏆 381. / 59 Read more »
Judge: Parents of dead West Point cadet can use his spermA judge has cleared the way for the parents of a 21-year-old West Point cadet fatally injured in a skiing accident to use his frozen sperm to produce a child Oh Thats more than a little weird Creepy. I wonder if they'll find a female corpse to harvest the eggs from
Source: ABC - 🏆 471. / 51 Read more »