Centene - Health Net Deal Gets U.S. Antitrust Approval - Quick Facts

(RTTNews) - Centene Corp. (CNC) and Health Net Inc. (HNT) announced early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with their merger agreement under which Centene will acquire all of the shares of Health Net in a cash and stock transaction valued at about $6.8 billion, including the assumption of approximately $500 million of debt.

As previously indicated on July 2, 2015, the combination of Centene and Health Net would create a diversified multi-national health care enterprise, extending Centene's offerings in government programs, including Medicare Advantage and programs offered through contracts with the U.S. Department of Defense and U.S. Department of Veterans Affairs, as well as the commercial exchanges.

Centene continues to expect that the transaction will close by early 2016, subject to approval by Centene and Health Net shareholders, approvals by relevant state insurance and health care regulators, and other customary closing conditions.