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Humana Inc. Message Board

  • friend_of_the_deceased friend_of_the_deceased Mar 1, 2000 3:52 PM Flag

    in case you are wondering

    Aetna shares rise after report of takeover
    offer
    NEW YORK, March 1 (Reuters) - Shares of Aetna Inc.
    (NYSE:AET - news) shot up more than 32 percent on Wednesday
    after a CNBC television report that the U.S. No. 1
    health insurer had received a takeover offer worth $70
    per share, or about $10 billion.

    Aetna's
    shares jumped 13-3/8 to 52-5/8, after being halted at a
    mid-point of 42-7/16 earlier in the afternoon.

    CNBC
    reported that Aetna received the unsolicited offer a few
    weeks ago from smaller health insurer Wellpoint Health
    Networks Inc. (NYSE:WLP - news) and ING Barings, the
    investment bank unit of Dutch bank-insurer Internationale
    Nederlanden Groep NV , citing a source close to the
    companies.

    The report said Aetna had not made public the receipt
    of the offer and had not responded to it. Aetna
    officials were not immediately available for
    comment.

    Aetna's share price hit an 8-year low last month amid
    lower-than expected results and dissatisfaction with
    management.

    Aetna last Friday appointed William Donaldson, a
    Washington insider and Wall Street deal maker, as chief
    executive after Richard Huber resigned. The company also
    recently hired corporate turnaround specialist Robert
    Miller to revive its flagging share price.

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