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WellCare's stock spikes on rumors of sale
By
Times Staff Writer
Posted: May 08, 2008 07:29 PM
Is WellCare Health Plans courting potential suitors? The Tampa company is mum about it, but rumors gave a nice bump to its shares late Wednesday and throughout the day Thursday. WellCare shares closed at $48.84, up 5.05 percent Wednesday. Speculations arose after a Financial Times report suggested that the company, which provides managed-care services for government-sponsored health care programs, has been looking for buyers. The names making the rounds are UnitedHealth Group, Aetna and Humana, the Financial Times said. Fortune reported that UnitedHealth would buy the company. The upward swing in shares gives WellCare a nice breather. In the days after an Oct. 24 state and federal probe at its Tampa headquarters, WellCare shares had plummeted as much as 84 percent.
[Last modified: May 08, 2008 07:29 PM]
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