Aetna And Humana Call Off Merger After Court Decision

[Jose Garcia]

Source: NPR

Health insurance companies Aetna and Humana have called off their planned merger, citing a federal court ruling last month that blocked the deal.

"While we continue to believe that a combined company would create greater value for health care consumers through improved affordability and quality, the current environment makes it too challenging to continue pursuing the transaction," Aetna CEO Mark Bertolini said in a statement.

Aetna announced it would pay Humana a $1 billion fee for backing out of the agreement. Humana announced about $370 million of that would be paid as taxes.

In January, a federal judge ruled against Aetna's proposed acquisition of Humana in a victory for former President Obama's Justice Department, which sued Aetna last year.

Read more: http://www.npr.org/sections/thetwo-way/2017/02/14/515167491/aetna-and-humana-call-off-merger-after-court-decision

[Sherman A1]

1. Oh, darn....

[Highway61]

2. 1 Billion dollar "fee"

Dirty Bastards...I hate them all Medicare for all!

[Bengus81]

3. Hence why Aetna pulled out of many ACA markets ONLY because they were whining....

about the Feds not letting them merge NOT because of ACA. These insurance companies are nothing BUT an industrial complex.

Funny,they claim they are all but broke because of paying for "all those sick people" signing up for the ACA YET they have a BILLION $$$$ to blow just on a Fee they agreed to pay if they backed out of a merger??