CVS now expects Aetna acquisition to close after Thanksgiving

CVS Health now anticipates its $ 69 billion acquisition of health insurer Aetna to close after Thanksgiving, the company said Tuesday in a regulatory filing. Executives earlier this month said they expected the deal to close before the holiday.

On a Nov. 6 call with Wall Street analysts to discuss third-quarter earnings results, CEO Larry Merlo said state approvals of the deal were on track to allow the companies to close before Thanksgiving.

Shares of CVS dipped about 3 percent Tuesday.

The companies announced the deal last December. The Department of Justice granted preliminary approval in October. CVS said it would sell its Medicare Part D drug plan business to WellCare Health Plans for an undisclosed amount to ease concerns about the overlap between CVS’ and Aetna’s Medicare Part D plans.

Tuesday was outgoing Chief Financial Officer David Denton’s first day at home improvement retailer Lowe’s. He was slated to make the move after the CVS-Aetna deal closed. Eva Boratto has replaced Denton at CVS.

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