Judge accepts CVS offer on Aetna while reviewing consent decree By Reuters
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© Reuters. People stroll by a CVS Pharmacy retailer within the Manhattan borough of New York CityWASHINGTON (Reuters) – A U.S. federal choose reviewing an settlement between the federal government and CVS Health Corp (N:) permitting it to purchase health insurer Aetna (NYSE:) has indicated that he is not going to halt most integration between the 2 corporations.
Judge Richard Leon stated in an order on Friday night that he would settle for CVS’s offer to permit Aetna to independently make crucial product, pricing and personnel selections throughout his evaluation.
“Based on CVS’s constructive and appropriate representations, I am satisfied that, so long as these measures remain in place, the assets involved in the challenged acquisition will remain sufficiently separate (during the review period),” Leon wrote in his order.
The Justice Department permitted the $69 billion merger of CVS, a U.S. pharmacy chain and advantages supervisor, and Aetna in October on situation that Aetna promote its Medicare prescription drug plan enterprise to WellCare Health Plans Inc (N:). Both offers have closed.
Antitrust consent decrees are normally permitted with out a lot fanfare however Leon has stated that he was “less convinced” than the federal government that the settlement would resolve antitrust considerations.
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