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StumbleNew bid for Nev. Blue Cross Blue Shield parent
Monday, March 29, 1999 | 12:36 p.m.
The proposal tops a bid of $165 million made by Anthem Inc. of Indianapolis, a Blue Cross licensee in Indiana.
WellPoint, of Thousand Oaks, Calif., said $140 million of its offer would go to charity compared to Anthem's $100 million for charity. Non-profits like Blue Cross Blue Shield converting to for-profit status are required to establish charities to make up for their years of favorable tax treatment.
Blue Cross Blue Shield has 70,000 policyholders in Nevada and 445,000 in Colorado.
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