WellPoint Near Deal to Acquire Big Rival
WellPoint, the giant health insurer, is near a deal to acquire WellChoice, the largest health insurer in New York State and the parent of Empire Blue Cross Blue Shield, for about $6.5 billion in cash and stock, according to executives close to the negotiations. A deal, if completed, would give WellPoint, already the nation's largest health insurer with 28 million members, an expanded foothold in the Northeast. More important, a deal in New York would put it in direct competition with Oxford Health Plans in New York, a unit of UnitedHealth Group, WellPoint's acquisitive rival.
