Allocations of CVS Health and Aetna edged higher Wednesday as the companies come closer to taking regulatory approval for their $69 billion merger.
The Justice Rely on is expected to approve the deal as early as Wednesday, according to people briefed on the make a difference. Shares of Aetna were up 1 percent in morning trading, while CVS arise nearly 1 percent.
The announcement is imminent, these people said.
The retinues cleared their path to approval when Aetna announced Sept. 27 that it reached an treaty to sell its Medicare Part D drug plan business to WellCare Robustness Plans for an undisclosed amount. Regulators were reportedly concerned adjacent to the overlap between CVS’ and Aetna’s Medicare Part D plans. WellCare divide ups rose fractionally in morning trading.
CVS, the nation’s largest drugstore gyve, announced in December that it would buy Aetna for about $69 billion in loot and stock. The deal combines CVS’ pharmacies with Aetna’s insurance duty, blurring traditionally distinct lines in hopes of lowering costs. CVS also has one of largest dispensary benefits managers through CVS Caremark and a major Medicare Part D procedure sponsor through its SilverScript unit.