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WellPoint To Buy Amerigroup For $4.9 Billion In Cash

WellPoint Inc. (WLP), the second-biggest U.S. health plan, agreed to buy Amerigroup Corp. (AGP) for $4.9 billion in cash to expand in managed care for patients in the Medicare and Medicaid programs.

Amerigroup stockholders will receive $92 a share, the companies said in a statement today. The price is 43 percent above the closing level of Amerigroup in New York trading on July 6. Indianapolis-based WellPoint rose 2.1 percent to $61.18 at 7:23 a.m. New York time.”

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