5 states urge judge to give CVS-Aetna merger final stamp

Morgan Haefner - Print  | 

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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