Amerigroup Sheds Unit, Winning OK For $5B WellPoint Deal

Law360, New York (November 28, 2012, 6:12 PM EST) -- The U.S. Department of Justice signed off Wednesday on WellPoint Inc.'s $4.9 billion acquisition of rival health insurer Amerigroup Corp. after concluding that Amerigroup's plan to sell its Virginia unit would keep the tie-up from harming competition.

The antitrust watchdog closed its investigation into the sale of Amerigroup Virginia to Inova Health System Foundation, allowing the larger merger to go forward. Without the sale of the unit, the DOJ had warned, the Amerigroup-WellPoint deal would have lessened competition for Medicaid managed care plans in northern Virginia....
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