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Five States Urge Wrapping Up Already-Closed CVS-Aetna Merger

May 16, 2019, 3:42 PM

Five states where CVS Health Corp. and Aetna Inc. have substantial operations are urging a federal judge to issue final approval of the companies’ already-closed merger given their settlements to address anti-competitive concerns.

The Justice Department approved in October CVS’ $69 billion acquisition of Aetna once Aetna agreed to sell its Medicare Part D drug plan business. But U.S. District Court Judge Richard Leon ordered in April an evidentiary hearing on the merger, stalling the DOJ settlement. Judges routinely review DOJ merger settlements, called the Tunney Act process, and typically sign off on the government’s decision with little fanfare.

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