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November 30, 2004 at 07:00 PM
A large California managed care company and a large Ohio managed care company say they have consummated their $16.5 billion merger.[@@]
Anthem Inc., Indianapolis, and WellPoint Health Networks Inc., Thousand Oaks, Calif., have described the deal as an acquisition of WellPoint by Anthem.
But WellPoint has been a bigger company with more cachet on Wall Street, and the combined company is calling itself WellPoint Inc. The company’s stock will begin trading Wednesday on the New York Stock Exchange under the symbol WLP.
WellPoint Inc. provides or administers health coverage for 28 million U.S. residents, and it is now the largest commercial health insurer in the country.
