A PYMNTS Company

US: CVS, Aetna win final state approval

By  |  November 26, 2018

CVS Health and Aetna have received the final state approval they need to complete their roughly US$69 billion merger and now expect the deal to close “on or about” November 28, the companies announced Monday, November 26, in regulatory filings.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The companies had been expecting to finalize the merger by Thanksgiving. However, a handful of the 28 states CVS and Aetna needed approval from opposed the combination, claiming it would reduce competition and could leave consumers worse off.

    CVS and Aetna announced the deal last December. The Department of Justice granted preliminary approval in October on the condition that CVS and Aetna removed overlap between their Medicare Part D plans. Aetna stated it would sell its Medicare Part D drug plan business to WellCare Health Plans for an undisclosed amount to ease the concerns.

    Full Content: Biz Journal
    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.