Aetna Inc. said Tuesday afternoon it would reorganize its business units ahead of its expected acquisition by CVS Health Corp. Aetna said it would break its business down into a health-care segment and a “Corporate/Other” category, which will include discontinued products, divested contracts and corporate expenses that do not support Aetna’s business operations. The company restated previous financial statements to reflect the change in Tuesday’s announcement, and will present financials in the new fashion when reporting first-quarter earnings May 1. CVS announced plans to buy Aetna for about $69 billion in cash and stock last December.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Latest posts by Market Watch (see all)
- London Markets: London markets falter as investors react to historic Brexit defeat - January 16, 2019
- The Wall Street Journal: American among 15 dead after militants attack upscale hotel in Kenya - January 16, 2019
- FTSE 100 slips after historic Brexit defeat - January 16, 2019