To stifle regulatory concerns over its $37 billion Humana merger, Aetna plans to sell billion-dollar assets, according to sources familiar with the matter, Bloomberg reported.
Here are six things to know:
1. Sources claim Aetna and advisers are working on an asset portfolio that could limit any substantial overlap between Aetna and Humana's operations if the assets are divested.
2. Additionally, sources say any of the assets Aetna sells would be contingent on it completing its Humana merger.
3. Despite asset news, the payers' shares did not fare well last week, according to Bloomberg. On July 1, Aetna shares fell 1.8 percent, hitting $119.95. Humana shares closed 3.3 percent lower, trading at $174 per share.
4. Last month, seven U.S. senators pushed forward a request to block the merger. Sen. Richard Blumenthal (D-Connecticut), one of the petition's signers, argued the deal was anti-competitive and posed as a threat to jobs in Connecticut.
5. While California's insurance commissioner implored the Justice Department to block the merger, Illinois Department of Insurance approved Aetna's acquisition of Humana last week.
6. Humana and Aetna opted to move their merger deadline from June 30 to Dec. 31.
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