Aetna Merger With Humana Canceled

Aetna Humana call off merger

The announcement by Aetna and Humana comes less than a month after Bates' decision, and less than a week after another federal judge blocked a proposed merger between health insurance companies Anthem and Cigna.

It didn't take long for the other shoe to drop in government challenges to major health insurance mergers, with a federal trial court smacking down the proposed $48 billion purchase of Cigna Inc.by Anthem Inc.

Besides paying Humana a $1 billion breakup fee - about $630 million net of tax - Aetna also killed its deal with Molina Healthcare to sell some Medicare Advantage assets, which will lead to undisclosed fees.

"Anthem believes that there is still sufficient time and a viable path forward potentially to complete the transaction that will save millions of Americans more than $2 billion in annual medical costs and deliver significant value to shareholders", Anthem said.

Louisville-based Humana and Hartford, Conn. -based Aetna on Tuesday announced that they had terminated their planned merger in light of a judge blocking the deal on antitrust grounds. Under the terms of the agreement, Aetna will pay Humana $1 billion in fees.

But the Department of Justice had sued last summer to stop the deals, due to concerns about how they may affect prices and consumer choices.

Retail sales up 0.4% in December as vehicle sales slow
Gasoline Stations sales were up 14.2% from January 2016, while Nonstore Retailers were up 12.0% from a year ago . On a month on month basis, December retail sales declined 1.9 per cent from November.

IHC imposes ban on celebrations of Valetine's Day
According to the court order, Valentine's Day-related festivities have been banned in public and official places. In Pakistan, Valentine's Day is seen by some as amoral and an appropriation of Western culture.

Two Young Girls Fight For Their Lives After Weekend Shootings in Chicago
Djuan Bowers, an uncle of the 12-year-old victim, said to WLS, "Instead of a gun, pick up a pencil, or a book". A 12-year-old girl was shot in the head while playing with friends in an unrelated shooting the same night.

Humana also said Tuesday it was pulling out of Obamacare for 2018.

It also filed a lawsuit in DE, asking a judge to declare legal its decision to terminate the deal and to approve $13 billion in damages for shareholders who did not receive the takeover premium.

After the defeat in court on January 23, Aetna and Humana said they were weighing an appeal.

An Anthem spokeswoman said the company is still committed to closing the deal, an indication the end of the merger attempt will be played out in court. "The two prime elements of healthcare are how you finance it and how you deliver it, and in this case, the big insurance companies have their fingers in both pies".

Humana also announced that 2017 would be the previous year in which the company will offer individual commercial medical coverage, and it will service members in the 11 states where it is now active. His ruling was followed just weeks later by another judge's denial of the deal between Anthem and Cigna.

In July 2015, the Aetna announced the deal to buy Humana in a cash and stock deal that was worth around $230 per share of Humana's shares. Aetna shares rose 3 percent to $125.81, while Humana fell 0.4 percent to $205.97.

Related news:

Hot News

isis-killer-beheading-video-story-top WWE WrestleMania 33: 3 Potential 'Replacements' for Randy Orton
Feb 16, 2017 - 00:52
American Alpha retained against Heath Slater and Rhyno, Breezango, the Vaudevillians, the Usos and the Ascension . Bray Wyatt emerged from Elimination Chamber as WWE champion, and he did so in impressive fashion.

isis-killer-beheading-video-story-top Yahoo's Security Incompetence Just Took $250 Million Off Verizon's Asking Price
Feb 16, 2017 - 00:47
The country's largest wireless carrier announced past year it planned to acquire Yahoo's core business for $4.83 billion. However, Yahoo has lagged Alibaba's performance over most of the past year as its transaction with Verizon was held up.

isis-killer-beheading-video-story-top India's Uttar Pradesh holds 2nd election round, amid row over exit poll
Feb 16, 2017 - 00:46
Chief Minister Harish Rawat and his government have been accused of corruption, which may have an impact on the results. The main fight in the Uttar Pradesh is going on between the Samajwadi Party and the BJP.

isis-killer-beheading-video-story-top More than 680 arrested in targeted nationwide ICE operations
Feb 16, 2017 - 00:44
Agency officials said ICE does not conduct "sweeps, checkpoint or raids that target aliens indiscriminately". Preliminary reports from southern California give an indication of the scope of the ICE operations.

isis-killer-beheading-video-story-top Smith dreams of unexpected India triumph
Feb 16, 2017 - 00:44
The first match of the four-match rubber will start from February 23 in Pune . Behind them is Josh Hazlewood, who is behind Ashwin by 27 points.

isis-killer-beheading-video-story-top 'Now I Don't Even Have A Valentine'
Feb 16, 2017 - 00:43
After previously calling The Weeknd's music "wack", it's clear this ex isn't quite over his ex. Justin Bieber is looking for love.

isis-killer-beheading-video-story-top Homefront: The Revolution is Preparing for a Trip Outside the Walls
Feb 16, 2017 - 00:43
We now know when PS4 Pro support is coming to Rocket League as its release date has finally been announced. It will feature the fan-vote winning item and numerous technical fixes and improvements.

isis-killer-beheading-video-story-top Justice Department Asks Seattle Judge to Defer Action on Trump Order
Feb 16, 2017 - 00:41
It gives some preference to refugees who have suffered religious persecution by being a minority religion in their home country. The property mogul-turned-president also signed three executive orders created to burnish his law-and-order credentials.

isis-killer-beheading-video-story-top European Parliament backs controversial Canadian trade deal
Feb 16, 2017 - 00:41
The Canadian government has clearly gained in confidence by the signing of the CETA agreement, but there is yet a long way to go. The deal will be enforced provisionally once the Canadian Senate gives its green light, which is anticipated within weeks.

isis-killer-beheading-video-story-top Hurrah! Airline to start offering free in-flight Netflix and Spotify
Feb 16, 2017 - 00:40
The Australian carrier is now speaking to suppliers regarding the extension of its wifi services to global and regional fleets. Existing subscribers will be able to log in to their accounts and access the services during flights as they would normally.

isis-killer-beheading-video-story-top Bride's Missing 150-Year-Old Wedding Dress Finally Found
Feb 15, 2017 - 00:16
Ms Newall, who got married in June past year , believed the dress had been taken to be sold by administrators Wylie & Bisset. Facebook commenters agreed, sending well wishes to the new bride when she amended her original post with the good news.

isis-killer-beheading-video-story-top Amber Rose & Val Chmerkovskiy Call It Quits After Five Months of Dating
Feb 14, 2017 - 00:30
And apparently they've been hounding Val Chmerkovskiy about his recent split from Amber Rose. Rose, 33, was married to Khalifa, 29, from 2013 to 2016.

isis-killer-beheading-video-story-top North Korea releases missile launch footage
Feb 14, 2017 - 00:28
This latest North Korean test would, according to analysts, help South Korea further justify its plans for the new missile shield. Japan's top government spokesman, Yoshihide Suge, said the test was "clearly a provocation to Japan and the region".

isis-killer-beheading-video-story-top After Meeting Canadian Prime Minister, Trump Talks Of Tweaking NAFTA
Feb 14, 2017 - 00:26
Trudeau will meet Paul Ryan, Speaker of the United States House of Representatives and Senate Majority Leader Mitch McConnell. Trudeau has been a vocal critic of Trump, going back to the early days of his candidacy.

isis-killer-beheading-video-story-top Trail Blazers Trade Mason Plumlee to Nuggets For Jusuf Nurkic
Feb 13, 2017 - 00:40
Amid a breakout season for Nikola Jokic , Jusuf Nurkic had clearly fallen out of the rotation of Nuggets' head coach Mike Malone. The one acquired in the trade with Denver, which originally belonged to Memphis, is top-five protected, ESPN notes .