Amerigroup’s buyer, Wellpoint, agreed to buy out the healthcare company for $92 a share, or 43% higher than Friday’s close. Amerigroup has a market cap of $3.12 billion.
Amerigroup, a fortune 500 company, specializes in serving patients that receive benefits through programs such as Medicaid and Medicare. Wellpoint’s acquisition of AGP would help both companies become more efficient in offering services to senior, disabled and patients with long-term needs. Wellpoint serves over 34 million people through their health plans and an additional 62 million people through its subsidiaries.