News Briefs: Elevance’s Deal to Buy Louisiana Blues Hits Roadblocks
The $2.5 billion deal between Elevance Health, Inc. and Blue Cross and Blue Shield of Louisiana is facing some hiccups, per the New Orleans Times-Picayune. The Louisiana Blues affiliate must reissue ballots to 92,000 policyholders that will allow them to approve or reject the sale and invalidate proxy ballots that it’s already received. The insurer will also reschedule a meeting and official vote until after the state’s Dept. of Insurance has held a two-day hearing on the proposed sale. Louisiana Insurance Commissioner Jim Donelon and Attorney General and gubernatorial frontrunner Jeff Landry — both Republicans — have been critical of the deal, the Times-Picayune reported. The newspaper also said that attorneys in the state Dept. of Insurance “fully expect litigation” over the proposed transaction, which Elevance announced in January.
