CVS, Aetna Shares Jump on Report About Deal's Antitrust Status
CVS, Aetna Shares Jump on Report About Deal's Antitrust Status
(Bloomberg) -- Shares of CVS Health Corp. and Aetna Inc. spiked Thursday after a report by Reorg Research that U.S. antitrust enforcers might not move to block the health-care companies’ deal.
The publication reported that Justice Department staff are expected to support approval of the about-$68 billion takeover, and will make their recommendation to senior officials who have the final say at the end of the month. The trade publication didn’t say where it got its information.
Aetna shares gained 2.3 percent to $191.89 at 1:11 p.m. in New York, below the about-$203-a-share value of the cash-and-stock deal. CVS rose 3.1 percent to $69.38.
Representatives for both companies declined to immediately comment.
To contact the reporters on this story: Zachary Tracer in New York at ztracer1@bloomberg.net;Robert Langreth in New York at rlangreth@bloomberg.net
To contact the editors responsible for this story: Drew Armstrong at darmstrong17@bloomberg.net, Timothy Annett
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