US DoJ will not challenge Aetna-CVS deal: report

US DoJ will not challenge Aetna-CVS deal: report

Shares of CVS Health Corp and health insurer Aetna Inc rose more than 2 percent on Thursday after CNBC reported that the U.S. Justice Department will not challenge their planned merger.

A CVS Pharmacy store is seen in the Manhattan borough of New York City
A CVS Pharmacy store is seen in the Manhattan borough of New York City, New York, U.S., November 30, 2017. REUTERS/Shannon Stapleton

REUTERS: Shares of CVS Health Corp and health insurer Aetna Inc rose more than 2 percent on Thursday after CNBC reported that the U.S. Justice Department will not challenge their planned merger.

CNBC said Bloomberg reported the news, citing trade publication Reorg Research.

CVS Health Corp and Aetna announced the US$69 billion deal on Dec. 3 last year, arguing it would enable the companies to tackle soaring healthcare spending by offering lower-cost medical services in pharmacies.

Aetna and CVS declined to comment.

(Reporting by Manas Mishra in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: Reuters

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