Faegre Baker Daniels LLP is representing WellPoint Inc. as lead regulatory counsel in the company's $4.9 billion acquisition of Amerigroup Corporation.
The deal, expected to close in the fourth quarter of 2012, is one of the largest all cash deals ever transacted in the health insurance sector. WellPoint, currently America's second-largest health insurance company, will become the largest private manager of Medicaid benefits in the U.S. and will have a Medicaid presence in 19 states when the deal is completed.
Because of the transaction's reach, it is subject to multiple state regulatory approvals and approval under the Hart-Scott-Rodino Antitrust Improvements Act. As lead regulatory counsel, Faegre Baker Daniels will play a key role in helping WellPoint obtain the state regulatory approvals necessary for the deal's success. In addition, Faegre Baker Daniels advised WellPoint on the transaction, particularly with respect to regulatory aspects.
The Faegre Baker Daniels team is led by partners Tibor Klopfer and Jason Kimpel, and associates Jared Danilson and Stephanie Dobecki. The firm's entire insurance practice group is also part of the team advising on the acquisition.