Cravath represented the underwriters, led by Barclays, Citigroup, Wells Fargo Securities and Evercore, in connection with the $2.86 billion registered common stock offering of Centene Corporation.
Proceeds of the offering will be used to finance a portion of the acquisition of Fidelis Care New York by Centene Corporation. The shares were listed on the New York Stock Exchange. The transaction closed on May 4, 2018.
Centene Corporation, a Fortune 100 company, is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Many receive benefits provided under Medicaid, including the State Children’s Health Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD), Foster Care and Long-Term Services and Supports (LTSS), in addition to other state-sponsored programs, Medicare (including the Medicare prescription drug benefit commonly known as “Part D”), dual eligible programs and programs with the U.S. Department of Defense and U.S. Department of Veterans Affairs.
The Cravath team included partner Johnny G. Skumpija (Picture) and associates Joshua Ayal, Alex M. Dzioba and Cole-Gabriel Dumond on securities matters, and Tara L. Rhoades and Andrew L. Mandelbaum on tax matters. Arash Ardalan also worked on securities matters.
Involved fees earner: Johnny Skumpija – Cravath Swaine & Moore; Joshua Ayal – Cravath Swaine & Moore; Alex Dzioba – Cravath Swaine & Moore; Tara Rhoades – Cravath Swaine & Moore; Andrew Mandelbaum – Cravath Swaine & Moore;
Law Firms: Cravath Swaine & Moore;