Brief: Centene Signs Definitive Agreement To Divest Magellan Specialty Health

Evolent Health

17/11/2022 21:59

Nov 17 (Reuters) - Centene Corp  CNC.N :
    * CENTENE SIGNS DEFINITIVE AGREEMENT TO DIVEST MAGELLAN
SPECIALTY
HEALTH
    * CENTENE CORP- CENTENE TO SELL MAGELLAN SPECIALTY HEALTH TO
EVOLENT
    * CENTENE CORP- CENTENE AND EVOLENT TO CREATE A NATIONAL
STRATEGIC
PARTNERSHIP
    * CENTENE CORP- EXPECTS TO RECEIVE OVER $750 MILLION IN
AGGREGATE
PROCEEDS, INCLUDING POTENTIAL EARNOUT
    * CENTENE CORP - CENTENE EXPECTS TO RECEIVE OVER $750
MILLION IN
AGGREGATE PROCEEDS, INCLUDING POTENTIAL EARNOUT
    * CENTENE CORP- WILL RECEIVE UP TO $150 MILLION IN CASH AND
EVOLENT COMMON STOCK IN 2024 IF CERTAIN PERFORMANCE METRICS ARE
ACHIEVED
    * CENTENE CORP - EXPECTS TO RECEIVE APPROXIMATELY $600
MILLION IN
PROCEEDS AT CLOSING, WITH AT LEAST $400 MILLION PAID IN CASH
    * CENTENE CORP- INTENDS TO USE MAJORITY OF NET PROCEEDS FROM
SALE
TO REPURCHASE STOCK AND BALANCE TO REDUCE DEBT
    * CENTENE CORP- TRANSACTION IS EXPECTED TO BE NEUTRAL TO
CENTENE'S
ADJUSTED EARNINGS PER SHARE IN 12-MONTH PERIOD POST-CLOSING
    * CENTENE CORP- WILL CONTINUE  ONGOING EXPANSION OF
EVOLENT'S
ONCOLOGY AND END OF LIFE SOLUTIONS, AS WELL AS EVALUATE OTHER
EVOLENT SPECIALTY SOLUTIONS

Source text for Eikon:  ID:nPncbtLY8a 
Further company coverage:  CNC.N 
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