October 4, 2012 / 12:30 PM / 5 years ago

Advisory firms back $92 per share Amerigroup sale to Wellpoint

Oct 4 (Reuters) - 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

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