Cameron Costa | CNBC
Larry Merlo, CEO of CVS as well as also Mark Bertolini, CEO of AETNA appear on Squawk Box on Dec. 4th, 2017.
CVS Health currently anticipates its $69 billion acquisition of health insurer Aetna to close after Thanksgiving, the company said Tuesday in a regulatory filing. Executives earlier This kind of month said they expected the deal to close before the holiday.
The company has received approval through 26 of the 28 state departments of insurance the item needs to close the deal, CVS said from the filing with the Securities as well as also Exchange Commission. The filing said CVS has made “significant progress” from the approval process as well as also can be in “the final stages” with the remaining two states.
On a Nov. 6 call with Wall Street analysts to discuss third-quarter earnings results, CEO Larry Merlo said state approvals of the deal were on track to allow the companies to close before Thanksgiving.
The companies announced the deal last December. The Department of Justice granted preliminary approval in October. CVS said the item would likely sell its Medicare Part D drug plan business to WellCare Health Plans for an undisclosed amount to ease concerns about the overlap between CVS’ as well as also Aetna’s Medicare Part D plans.