US: Justice Department wants more info on Aetna-CVS merger

The Department of Justice (DOJ) is seeking more information, and so will get more time, to review the multibillion-dollar deal between CVS and Aetna.

Federal regulators sent CVS and Aetna the request for additional information about their transaction just before the 30-day waiting period—mandated by the Hart Scott Rodino Act—was set to expire on Friday, February 2, according to a Securities and Exchange Commission (SEC) filing. The move triggers another 30-day waiting period, during which the DOJ will continue to review the deal.

“CVS Health and Aetna have been cooperating with the DOJ staff since shortly after the announcement of the merger agreement and are continuing to cooperate with the DOJ staff in its review of the transactions contemplated by the merger agreement,” the firms said in their filing with the SEC.

The DOJ’s request for more information, while not unsurprising for a deal of this size, shows it is carefully scrutinizing CVS’ bid to purchase Aetna. The transaction is valued at US$69 billion, or US$77 billion with the assumption of Aetna’s debt.

Full Content: CNBC

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