Shareholders Approve AnthemTrigon Deal

By Staff Writer

July 23, 2002 at 08:00 PM

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NU Online News Service, July 23, 1:17 p.m. – Anthem Inc., Indianapolis, and Trigon Healthcare Inc., Richmond, Va., say the shareholders of both companies have voted in favor of Anthem's proposed acquisition of Trigon.

Virginia regulators approved the deal Monday, and the companies have also received approval from the Blue Cross and Blue Shield Association, Chicago.

Anthem and Trigon hope to complete the deal by July 31, Anthem says.

Under the acquisition agreement, Trigon's shareholders would receive $30 in cash and 1.062 shares of Anthem stock for each Trigon share.

The total value is about $3.5 billion, based on the July 22 closing price of Anthem stock, Anthem says.

Anthem is a managed-care company that holds the Blue Cross and Blue Shield licenses for Colorado, Connecticut, Indiana, Kentucky, Maine, Nevada, New Hampshire and Ohio.

Trigon holds Blue Cross and Blue Shield licenses for Virginia. It provides or administers major medical coverage for 2 million people.

The acquisition price amounts to about $1,700 for each of Trigon's major medical members.

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