From Modern Healthcare:
California Treasurer Phil Angelides criticized UnitedHealth Group’s proposed acquisition of PacifiCare Health Systems, Cypress, Calif., calling $314 million earmarked for payouts to top executives excessive. Angelides, who plans to run for governor next year, urged Gov. Arnold Schwarzenegger and two of the state’s largest public pension funds to use their investment clout to oppose the $8.1 billion deal if the payments are not rescinded.
The payouts average $8M per executive. Maybe they should have kept a lower profile and settled for $5M.September 16, 2005