BRIEF-IC Potash announces private placement of up to 16.25 mln units priced at $0.08/unit
* A non-brokered private placement of up to 16.25 million units of Company at a price of $0.08 per unit
WASHINGTON Nov 28 WellPoint Inc can move forward with its $4.5 billion purchase of health insurance rival Amerigroup Corp after Amerigroup alleviated antitrust concerns by selling operations in Virginia, the U.S. Justice Department said on Wednesday.
Without the sale, the combined company would have had a monopoly in the northern Virginia suburbs outside Washington, the Justice Department said.
The companies announced the deal in July, betting the U.S. government would expand its Medicaid program for the poor as part of President Barack Obama's health insurance overhaul.
The Justice Department said it was concerned about consolidation in northern Virginia because WellPoint and Amerigroup were the only two providers of Medicaid managed care plans there.
The sale of Amerigroup's Virginia unit to Inova Health System Foundation ensured that competition in the market will continue, the department said. The Virginia Attorney General's office worked with federal officials on their review.
"Preserving competition in healthcare markets is vital to ensuring that consumers receive better and more innovative health care services," said Renata Hesse, acting U.S. assistant attorney general for antitrust matters.
WellPoint and Amerigroup did not immediately respond to requests for comment.
Dec 2 U.S. energy companies extended their recovery in oil drilling into a seventh month this week as they follow through on plans to add rigs as crude rose to its highest price in over a year. Drillers added three oil rigs in the week to Dec. 2, bringing the total count up to 477, the most since January, but still below the 545 rigs seen a year ago, energy services firm Baker Hughes Inc said on Friday. Since crude prices recovered from 13-year lows to
WASHINGTON, Dec 2 United Airlines' parent company will pay $2.4 million to settle civil charges, after it reinstated an unprofitable flight route to accommodate former Port Authority Chairman David Samson, the U.S. Securities and Exchange Commission said.