Personal Lines ALL IBR | Personal Lines Personal Lines Home |News |White Papers |Suppliers |Companies Return to: IBR Home | General Insurance | Personal Lines Select a Insurance sector ------------------------ Commercial Lines Personal Lines Claims Insurer ------------------------ Life Insurance & Pensions ------------------------ Brokerage Underwriting London Lloyds ------------------------ Reinsurance ------------------------ Technology in Insurance Outsourcing ------------------------ Regulatory & Risk Personal Lines News Aetna to complete purchasing of Coventry Health Care IBR Staff Writer Published 06 May 2013
US-based health care benefits company Aetna will soon complete the acquisition of Coventry Health Care, following the receipt of clearance from the US Department of Justice (DOJ).
After the completion of the $5.7bn in cash and stock deal, which was initially inked in August 2012, the acquirer will emerge as a major player in government-financed health care segment.
The acquirer said that the transaction will be modestly accretive to its 2013 operating earnings per share, with $0.45 of accretion in 2014 and $0.90 of accretion in 2015.
Based on the terms of the original agreement, Connecticut-based Aetna is offering $42.08 a share for Coventry, which is a 20.4% premium to Coventry's shares as of 17 August 2012, closing price.
For each share of Coventry, its shareholders will receive $42.08 a share, in a combination of cash and 0.3885 share of Aetna, according to the deal.
Serving nearly 38.3 million customers, Aetna provides an array of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities.
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Related Dates
2013> May
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Financial Services> Insurance> Accident & Healthcare
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