CVS and Aetna’s $69 billion merger is now officially complete. The deal closed on Wednesday, November 28, 2018.
Both Aetna and CVS were expecting to finalize the deal by Thanksgiving. However, several of the 28 states that needed to approve the merger had opposing views, saying integrating the two companies could potentially be bad for consumers and reduce competition.
Preliminary approval was granted by the Department of Justice in early October with one stipulation: CVS and Aetna would remove overlap between their Medicare Part D plans. Aetna agreed to sell WellCare Health Plans their drug plan business. The monetary amount that they settled for has not been disclosed.