Aetna AET released the following statement after today's Coventry
Health Care, Inc. stockholder vote approving Aetna's proposed acquisition of
Coventry:
“We're pleased that Coventry's stockholders have overwhelmingly approved our
proposed acquisition,” said Aetna Chairman, CEO and President Mark T.
Bertolini. “We continue to believe that Coventry will complement Aetna's
strategy to expand our core insurance business, increase our presence in the
fast-growing Government sector and expand our relationships with providers in
local geographies.”
The transaction is subject to customary closing conditions, including
expiration of the federal Hart-Scott-Rodino antitrust waiting period and
approvals of state departments of insurance and other regulators. Aetna and
Coventry continue to expect that the transaction will be completed in
mid-2013.
With the Coventry stockholder vote completed, Aetna may resume repurchases of
its common shares, subject to its evaluation of market conditions, capital
allocation considerations, legal constraints and other relevant factors.
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