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Centene Corp (CNC.N)

CNC.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Centene Corp announces pricing of senior notes offering
Thursday, 28 Jan 2016 05:32pm EST 

Centene Corp:Says pricing of an offering by its wholly owned subsidiary, Centene Escrow Corporation , of $1.4 billion aggregate principal amount of 5.625% senior notes due 2021 and $1.0 billion aggregate principal amount of 6.125% senior notes due 2024.Both series of notes priced at 100% of the principal amount thereof, which will result in aggregate gross proceeds of $2.4 billion.  Full Article

Centene Corp announces proposed senior notes offering
Tuesday, 26 Jan 2016 05:21pm EST 

Centene Corp:Says its wholly-owned subsidiary, Centene Escrow Corporation, intends to offer $2,270,000,000 in aggregate principal amount of senior notes, consisting of senior notes due 2021 and senior notes due 2024.Intends to use net proceeds of offering, together with borrowings under Company's new senior credit facility, to fund cash consideration for Merger and transactions related thereto, to pay fees and expenses and for general corporate purposes.  Full Article

Centene Corp Reaffirms FY 2016 guidance
Tuesday, 26 Jan 2016 04:59pm EST 

Centene Corp:Reaffirms FY 2016 guidance that was previously announced at its Investor Day in New York on Dec. 18, 2015.Sees FY 2016 Total revenues in the range of $41.2 billion to $42.0 billion.Sees FY 2016 GAAP earnings per diluted share of approximately $2.85 to $3.15.Sees FY 2016 Adjusted earnings per diluted share of approximately $4.10 to $4.40.FY 2016 Adjusted earnings per diluted share excludes approximately $0.65 to $0.70 per diluted share of Health Net merger related expenses and total intangible amortization associated with acquisitions of $0.55 to $0.60 per diluted share.  Full Article

Centene Corp announces internal search of information technology assets
Monday, 25 Jan 2016 05:46pm EST 

Centene Corp:Announces internal search of information technology assets.Says the total number of affected individuals is approximately 950,000.Determined hard drives contained the personal health information of certain individuals who received laboratory services from 2009-2015.Says the hard drives do not include any financial or payment information.Says ongoing internal search for six hard drives that are unaccounted for in its inventory of information technology (it) assets.Drives were a part of a data project using laboratory results to improve the health outcomes of members.  Full Article

Centene Corp's Texas subsidiary announces contract award for Star Kids
Monday, 12 Oct 2015 08:00am EDT 

Centene Corp:Says unit awarded a contract by the Texas health and human services commission (hhsc) to serve star kids medicaid recipients.Says new star kids medicaid managed care program will begin in the fall of 2016.  Full Article

Centene 's Washington Subsidiary Wins Statewide Foster Care Contract
Thursday, 20 Aug 2015 08:00am EDT 

Centene Corp:Says it has been selected by the Washington State Health Care Authority as the Bidder for the Apple Health Foster Care contract.Says the new contract is expected to commence in Nov., pending regulatory approvals.  Full Article

Centene Corp resignation of William N. Scheffel - Form 8-K
Wednesday, 12 Aug 2015 06:00pm EDT 

Centene Corp:Says that on Aug. 11, 2015, William N. Scheffel, Executive Vice President and Chief Financial Officer, advised the company of his intention to retire in early 2016.Says it is his intent to step down in Feb. after the filing of the Form 10-K, or when the Health Net transaction is completed, whichever is later.Says the Board has designated Jeffrey A. Schwaneke, Senior Vice President, Corporate Controller and Chief Accounting Officer as Chief Financial Officer when Scheffel steps down.  Full Article

Centene Corp raises low end of prior FY 2015 EPS guidance to a range in line with analysts' estimates
Tuesday, 28 Jul 2015 06:00am EDT 

Centene Corp:Expects FY 2015 diluted EPS in the range of $2.74-$2.82.FY 2015 EPS of $2.79 - Thomson Reuters I/B/E/S.  Full Article

Health Net Inc announces merger agreement with Centene Corporation - Form 8k
Tuesday, 7 Jul 2015 06:10am EDT 

Health Net Inc:Enters into an agreement and plan of merger with Centene Corporation, together with Chopin Merger Sub I, Inc. (Merger Sub I) and Chopin Merger Sub II, Inc. ('Merger Sub II'), each a Delaware corporation and a direct, wholly-owned subsidiary of Centene.Says the terms and subject to the conditions set forth in the merger agreement, Merger Sub I will merge with and into the company, with the Company as the surviving corporation.  Full Article

Centene Corporation to buy all shares of Health Net for $6.8 billion
Thursday, 2 Jul 2015 07:08am EDT 

Centene Corporation:Boards of Directors of both companies have unanimously approved a definitive agreement.Under which Centene will acquire all of the shares of Health Net in a cash and stock transaction valued at about $6.8 billion, including the assumption of approximately $500 million of debt.Under the terms of the agreement, Health Net shareholders would receive 0.622 shares of Centene common stock and $28.25 in cash for each share of Health Net common stock.Based on Centene's closing stock price on July 1, the implied consideration of $78.57 per share represents a premium of approximately 21% over Health Net's closing stock price on July 1, and of approximately 26% on June 1.Upon completion of the transaction, Centene shareholders would own approximately 71% of the combined entity, with Health Net shareholders owning approximately 29%.Transaction is expected to be significantly accretive to Centene's diluted earnings per share in the first year following closing.  Full Article

Centene expects recent steps to bolster Health Net ops

Health insurer Centene Corp said it expects performance in its recently acquired Health Net business to improve by next year, as price increases and market exits begin to pay off.