Oxford Health Stock Soars on New Report
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Shares of Oxford Health Plans Inc. rose to a three-year high after a published report said the company was in talks to be acquired by WellChoice Inc., in a deal that would create one of the largest health insurers in the U.S. Northeast.
Oxford officials did not return a call seeking comment on a Wall Street Journal story that WellChoice officials are in talks with Oxford to offer as much as a 25% premium over Oxford’s closing price Friday. A WellChoice spokeswoman wouldn’t comment.
Shares of Trumbull, Conn.-based Oxford rose $7.65, or 15%, to $57.97 on the NYSE. Shares of New York-based WellChoice fell 36 cents to $37.09.
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