Article: Formidable foe; CalPERS fights to block WellPoint-Anthem merger.(The Week In Healthcare)(California Public Employees' Retirement System, WellPoint Health Networks, Anthem Alliance Health Insurance Co.)

Byline: Laura B. Benko

In perhaps the biggest threat yet to Anthem's planned takeover of WellPoint Health Networks, the nation's largest public pension fund vowed last week to fight the $16 billion deal, citing excessive executive pay packages that could harm patient care and compromise shareholder value.

The California Public Employees' Retirement System-which owns about 722,000 WellPoint shares and 613,000 Anthem shares-announced last week that it would call on other major stockholders to oppose the merger on the grounds that it would trigger up to $607 million in compensation for Thousand Oaks, Calif.-based WellPoint's top executives. Shareholders of ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!