Oct 4 Proxy advisory firms Institutional Shareholder Services Inc and Glass Lewis & Co on Thursday recommended that Amerigroup Corp stock owners approve the $92 per share cash offer by larger healthcare company WellPoint Inc.
The shareholder vote on the $4.5 billion deal will be held on Oct. 23. On Tuesday, the company delayed the vote by two weeks.
In July, WellPoint announced the deal to buy Amerigroup as part of a bet on an expansion of the U.S. government's health plan for the poor [ID;nL3E8I931Y].
Shares of Amerigroup closed on Wednesday slightly under the offer price at $91.61 on the New York Stock Exchange.
(Reporting By Caroline Humer; Editing by Gerald E. McCormick)