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CVS Health: Deal to buy Aetna will close after Thanksgiving

United Press International by United Press International
November 21, 2018
in Business & Lifestyle, Business News, Consumer Watchdogs, Financial News, National, Your Health
Reading Time: 1 min read
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WOONSOCKET, R.I. (UPI) — CVS Health’s $69 billion acquisition of Aetna will take longer than expected as the retail pharmacy needs approval from two more state departments of insurance. Earlier this month, CVS CEO Larry Merlo said the deal was on track to close before Thanksgiving. In a SEC filing Tuesday, the company said that now won’t happen until after the holiday. “CVS Health has made significant progress and is in the final states of the approval process with the remaining two states,” CVS said in the filing. “As a result, the acquisition is now expected to close after the Thanksgiving holiday.” To get past antitrust concerns, CVS announced it would sell its WellCare Health Plans to prevent overlap with Aetna’s Medicare Part D plans. The Department of Justice gave preliminary approval to the deal last month. In the SEC filing, CVS also said Eva Boratto will be the new executive vice president and chief financial officer and James Clark will be appointed senior vice president, controller and chief accounting officer when the deal closes.
United Press International
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United Press International is an international news agency whose newswires, photo, news film, and audio services provided news material to thousands of newspapers, magazines and radio and television stations for most of the 20th century.

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Tags: AetnaAetna Inc.business newsconsumer newscurrent national newsCVSCVS Corp.CVS HealthCVS Health Corp.Eva Borattofinancial newsinsurance newsJames ClarkLarry MerloMedicarenational newsU.S. NewsWellCare Health
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Some rights reserved 2017-2023 by Heartland Newsfeed, a subsidiary partnership by Heartland Internet Media Networks and Heartland Media Group of Central Illinois LLC. Content published by Heartland Newsfeed staff is covered by the BipCot NoGov license. This allows use and re-use by anyone except governments and government agents. License on record. JNews theme designed and developed by Jegtheme.

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