Shares of CVS Health, Aetna, Cigna, Express Scripts spike after AT&T-Time Warner decision

Morgan Haefner - Print  | 

Four corporate giants awaiting regulatory approval in merger deals saw share prices rise in after-hours trading June 12 after a federal judge greenlighted AT&T's takeover of Time Warner, the Hartford Courant reports.

Following a six-week trial, U.S. District Court for the District of Columbia Judge Richard Leon determined the $85 billion AT&T-Time Warner deal does not violate antitrust laws and can proceed. Investors saw the decision as a plus for other large corporations seeking regulatory approval of their mega-deals, such as CVS Health's $69 billion bid for Aetna and Cigna's $67 billion offer for Express Scripts.

Here is how much all four companies' stock rose on the news during after-hours trading June 12, according to the report:

CVS Health — up 2 percent to $67.50
Aetna — up 3 percent to $186.50
Cigna — up less than 1 percent to $180
Express Scripts — up almost 5 percent to $83

More articles on healthcare finance:
Kansas hospital loses Medicare billing privileges, may be forced to close
Texas hospital considers bankruptcy as debt mounts
University Hospitals launches bundled payment program with Walmart

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.