The United States Justice Department has given the go-ahead for a merger of Aetna and CVS Health. The two companies say the approval will mean the cutting of soaring healthcare costs.
The $69 billion acquisition of Aetna by CVS does come with conditions. The Justice Department says Aetna’s Medicare Part D prescription drug business must be sold.
How did Wall Street react to the news? Shares of CVS and Aetna each rose about 1 percent on a day where the market is down.