Ohio AG sues to slow Blue, Columbia deal.(Attorney General, Blue Cross and Blue Shield of Ohio, Columbia/HCA Healthcare Corp.)

National Underwriter Life & Health-Financial Services Edition, July, 1996 by Bell, Allison

Ohio Attorney General Betty Montgomery filed a complaint to protect the charitable assets of Blue Cross and Blue Shield of Ohio in the wake of its merger deal with Columbia/HCA Healthcare Corp. The Attorney General also asked for a postponement of policyholders lawsuit. Montgomery also objected to the severance package proposed for three executives totalling $15 million.

A state official has gone to court to slow the wedding plans of Cleveland-based Blue Cross & Blue Shield of Ohio.

The nonprofit mutual insurer announced an agreement in March to sell control of most of its operations for $299.5 million to Columbia/HCA Healthcare Corp., Nashville, Tenn.

Ohio Attorney General Betty Montgomery recently filed a complaint in Cuyahoga County court seeking to...

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