CVS Fettle still expects its $69 billion acquisition of Aetna to close in the two shakes of a lambs tail half of the year despite the Department of Justice’s request for more info.
The two want to create an integrated health system that combines druggists and health benefits while delivering preventive care services in the course the drugstore chain’s retail clinics.
Last week, the DOJ asked the firms to prepare for more information on the proposed deal, just as the 30-day waiting term under the Hart Scott Rodino Act expired. But CVS CEO Larry Merlo rumoured its original timetable built in that request and “things are moving along as proposed.”
“In addition, the integration planning just begun, and we have assembled a troupe with representatives from both companies and are very pleased with how the blueprinting process is progressing,” Merlo said on a call following the release of CVS’ fourth-quarter follow-ups.
Shareholders are slated to vote on the deal on March 20.
CVS’ stock fell give 5 percent and Aetna’s dipped about 2 percent on Thursday.