Aetna Seeks To Assuage DOJ’s Anti-Competition Concerns Over Humana Merger
Company executives met with Justice Department officials on Friday to deliver assurances that they will address competitive concerns through asset sales. WellCare and Centene are among the insurers who have offered to buy its Medicare Advantage plans.
The Wall Street Journal:
Big Insurers Defend $34 Billion Merger
Aetna Inc. and Humana Inc. face resistance from the Justice Department to their proposed $34 billion merger and an uphill battle persuading antitrust enforcers the deal won’t harm competition, according to people familiar with the matter. The insurers on Friday met with top government officials in a late-in-the-game attempt to make their case that the deal has public benefits and won’t hurt consumers, and that they could address competitive concerns through asset sales, people familiar with the matter said. (Kendall and Wilde Mathews, 7/8)
Reuters:
Aetna Meets With Justice Department Over Merger With Humana
Aetna Inc executives met with top Justice Department antitrust officials on Friday to convince the government that asset sales it proposed would address potential competitive problems that could threaten its deal to buy rival Humana Inc, according to a source familiar with the matter. Aetna's plan to buy Humana would combine two of the largest providers of Medicare Advantage plans for elderly people, and investors are concerned that antitrust regulators could oppose the deal. (7/8)
Reuters:
WellCare, Centene Make Offers For Aetna Assets-Sources
WellCare Health Plans Inc and Centene Corp have made competing offers for the Medicare Advantage insurance plans that Aetna Inc looks to shed in seeking clearance for its acquisition of Humana Inc, people familiar with the matter said. The potential divestiture is a central pillar of Aetna's efforts to win over regulators for its $34-billion Humana deal. The health insurer met U.S. Department of Justice officials on Friday in a bid to address their antitrust concerns. (O'Donnell and Humer, 7/9)
Bloomberg:
WellCare, Centene Are Said To Bid For Aetna Medicare Assets
Health insurers including WellCare Health Plans Inc. and Centene Corp. have offered to buy assets that Aetna Inc. may have to sell to gain regulatory approval for its proposed $37 billion takeover of Humana Inc., a person familiar with the matter said. WellCare and Centene have separately bid for Aetna’s Medicare Advantage policies that are up for sale, covering about 350,000 people. (Tracer, 7/9)