Morgan
Haefner – May 20, 2019
A federal
judge should give final approval to CVS Health and Aetna to close their $69
billion deal, urged five states where the companies have substantial
operations, according to Bloomberg Law.
The
already-closed deal is hung up in court as U.S. District Judge Richard Leon
ordered an evidentiary hearing on the merger. The hearing stalled approval of
the Department of Justice's settlement on the merger, which the department said
adequately addressed anticompetitive concerns.
CVS and
Aetna got approval to merge
from the Justice Department in October 2018 after Aetna agreed to spin off its
Medicare Part D prescription drug plan business. The companies closed their deal
in November of the same year, but Mr. Leon's scrutiny has continued.
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