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CVS Health Expects To Close Aetna Deal After Thanksgiving Holiday

CVS Health Corp (CVS) disclosed in a regulatory filing that it expects to close its $69 billion acquisition of Aetna Inc (AET) after the Thanksgiving holiday. CVS had previously said it expected the transaction to close by Thanksgiving.

CVS Health today said it has received approval from 26 of the 28 state departments of insurance. CVS Health has made significant progress and is in the final stages of the approval process with the remaining two states. CVS Health is confident that these remaining approvals will be secured.

CVS Health announced Eva Boratto has been appointed Executive Vice President and Chief Financial Officer and James Clark has been appointed as CVS Health's Senior Vice President - Controller and Chief Accounting Officer, effective as of that date. CVS Health previously announced, in Current Reports on Form 8-K filed with the SEC on October 10, 2018 and October 22, 2018, that Boratto and Clark would be appointed to these positions at the close of the Acquisition.

CVS Health had previously announced that David M. Denton, Executive Vice President and Chief Financial Officer of CVS Health, would be leaving CVS Health at the closing of the Acquisition. CVS Health announced on November 19, 2018 that Mr. Denton would be separated under the terms of his separation agreement effective as of that date. Other than the change to Mr. Denton's departure date, the previously announced terms of Denton's separation remain unchanged.

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