Cameron Costa | CNBC
Larry Merlo, CEO of CVS along with Mark Bertolini, CEO of AETNA appear on Squawk Box on Dec. 4th, 2017.
Shares of CVS Health along with Aetna rose Thursday on a report the Department of Justice won’t challenge their merger.
Bloomberg reported the news, citing trade publication Reorg Research. Aetna declined comment. CVS said the idea does not comment on “market rumors.”
Drugstore chain along with pharmacy benefits manager CVS announced in December the idea could acquire health insurer Aetna for $69 billion in a deal in which could reshape the health industry. Some had feared the Department of Justice could seek to challenge the deal like the idea did AT&T’s acquisition of Time Warner.
CVS shares rose nearly 3 percent, while Aetna’s shares increased 2 percent. Shares of Cigna along with Express Scripts also rose on the news. The health insurer Cigna is actually within the process of acquiring pharmacy benefits manager Express Scripts.
Express Scripts declined comment.
-CNBC’s Bertha Coombs contributed to in which report