Centene is up for sale.
I interviewed for a position (did not get, wasn't a fit anyway) with a major multi-national service company that counts as customers all your major pharmas and healthcare companies. I had to cover the story of my position elimination last year. Surprisingly, this HR person said to me that she heard that Centene was up for sale. I didn't comment as I didn't want to 'go negative'. But it's very interesting when someone from way outside the payer world says it outright.
The board of directors would decide and vote for it if it’s the offer is good enough.
If the CNC board agrees to sell my guess is they would sell off the products individually. Sometimes the parts sold separately are worth more than the whole.
I personally suspected this for some time, as big payers don't outsource marketing (setting up for compliance problems, for starters). But the acquisition binge coupled with downsizing often signals a certain flailing on the part of management–stuff the company full of goodies to make it look good to the shareholders and in a plan B, to an acquirer. I'd be smart and believe there is a plan B and C which involve a sale of businesses or the company in total.
I once worked for a major travel and real estate conglomerate that should have traded in the stratosphere. They trumpeted their synergies. Share price languished due to lack of confidence in management, not so much the earnings but the forward look. Mr. Market sometimes takes a shine to companies...this was the opposite. One by one, the businesses were sold off, the conglomerate was dismantled, and what's left was, ironically, the company where I worked for 13 years, which survives.
Hopefully the deal gets the CEO / upper execs all excited to the point they’re filled with glee and greed...and the deal falls through. For once, let these big corporations see that they can’t have something they want. Bunch of *ssclowns!
I wouldn’t doubt it.