CVS Health Stockholders Approve Aetna Acquisition
14 March 2018 - 3:23AM
Dow Jones News
By Aisha Al-Muslim
CVS Health Corp. (CVS) stockholders have voted to approve the
pharmacy company's acquisition of U.S. health insurer Aetna Inc.
(AET).
More than 98% of the shares voted were in favor of the proposal,
according to the preliminary results from a special meeting
Tuesday, CVS said.
The merger is expected to close in the second half of 2018,
subject to required regulatory approvals.
In December, CVS Health announced it agreed to buy Aetna for
about $69 billion in cash and stock in a move to transform the
pharmacy company and capture more of what consumers spend on health
care.
Aetna stockholders are to receive $207 per share--$145 in cash
and 0.8378 of a CVS share, or $62, in stock, the companies said in
December.
"When this merger is complete, the combined company will be
well-positioned to reshape the consumer health care experience,
putting people at the center of health care delivery to ensure they
have access to high-quality, more affordable care where they are,
when they need it," CVS Health President and Chief Executive Larry
Merlo said in prepared remarks.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
March 13, 2018 12:08 ET (16:08 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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