Business

U.S. DoJ will not challenge Aetna-CVS deal: report

(Reuters) – Shares of CVS Health Corp (CVS.N) and health insurer Aetna Inc (AET.N) 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, New York, U.S., November 30, 2017. REUTERS/Shannon Stapleton

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

CVS Health Corp and Aetna announced the $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

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