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Bank of America, Anthem, UnitedHealth Group Announce Big Acquisitions

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NU Online News Service, Oct. 27, 2003, 8:24 a.m. EST – Three financial services companies acted today to liven up the financial services mergers and acquisitions market.

Bank of America Corp., San Francisco, has agreed to acquire FleetBoston Financial Corp., Boston, for $47 billion in stock.

Anthem Inc., Indianapolis, the holder of several Blue Cross and Blue Shield licenses, has agreed to acquire WellPoint Health Networks Inc., Thousand Oaks, Calif., another holder of Blue Cross and Blue Shield licenses, for $16 billion in cash and stock.

UnitedHealth Group Inc., Minnetonka, Minn., a giant managed care company, has agreed to acquire Mid Atlantic Medical Services Inc., Rockville, Md., a midsize East Coast managed care company, for $2.7 billion in cash and stock.

See more coverage about the deals here later today.


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