logo
Plus   Neg
Share
Email

Federal Judge Approves CVS-Aetna Merger

A Federal judge has formally approved CVS Health's nearly $70 billion acquisition of health insurer Aetna, after a condition set by the U.S Justice Department was achieved.

The merger was allowed by the Justice Department on condition that Aetna sell its Medicare prescription drug plan business to WellCare Health Plans. Both deals have already closed.

U.S. District Judge Richard Leon initially ordered hearings after he said the Justice Department and the companies acted like his approval was a mere "rubber stamp." The companies had closed the deal just one month after reaching an agreement with federal regulators, which angered Leon.

On Wednesday, Leon officially signed off on the agreement reached between the two companies and federal regulators.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Verizon and Google announced a partnership, under which Verizon's Fios Gigabit subscribers will get a free Stadia Premiere Edition for new cloud gaming. Starting January 29, new Fios Gigabit internet customers will get a Stadia Premiere Edition, which includes a controller, and a free three-month Stadia Pro subscription. The offer includes a Google Chromecast Ultra to play games on existing TV. Online-video streaming giant Netflix Inc. (NFLX), Tuesday reported a fourth-quarter profit that trounced Wall Street estimates, as revenues surged 31% driven by strong subscriber growth. Netflix added 8.76 million subscribers globally in the quarter, above its forecast of 7.60 million, to end the... Fast food chain Krystal Company has filed for bankruptcy, according to reports. The Atlanta-based Krystal filed for Chapter 11 on Sunday in the U.S. Bankruptcy Court in Atlanta. In the filing, the company reportedly disclosed assets between $10 million and $50 million, and liabilities between $50 million and $100 million.
Follow RTT
>