Shares of CVS Health Corp and Aetna Inc jumped Thursday, July 12, on reports that the US Department of Justice (DOJ) will not challenge the US$69 billion purchase of the Hartford health insurer.
Bloomberg reported the DOJ’s decision, citing publication Reorg Research.
Shares of Aetna closed at $191.08, up less than 2%, after climbing nearly 2.5% earlier in the day. CVS ended the day at US$67.99, up 1% after jumping more than 4% at one point during the day.
The federal government blocked Aetna last year from buying Humana in Louisville, in a US$37 billion deal. The DOJ said the acquisition was anti-consumer and a federal judge agreed, striking down the deal.
Full Content: Bloomberg
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