Traveling Light At TravelersTim Smart
Sandy Weill is not a patient guy. In January, making it known he was displeased with Travelers' laggard group-health business, he merged it with Metropolitan Life's health unit. He vowed that the resulting company, MetraHealth, would become a national managed-care power. But it didn't happen fast enough: On June 27, MetraHealth was sold to HMO giant United HealthCare. Travelers will receive $816 million of the $1.65 billion price in cash, plus more in future payments.
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