REUTERS: Aetna CEO expects Humana deal to close in 2016 - WDRB 41 Louisville News

REUTERS: Aetna CEO expects Humana deal to close in 2016

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LOUISVILLE, Ky. (REUTERS/WDRB) -- Aetna's Chief Executive Mark Bertolini said earlier this week that he expects the company's $37 billion acquisition of Louisville-based Humana to close this year.

Aetna’s purchase of Louisville-based Humana – the biggest corporate headquarters in Kentucky – was agreed to on July 2 and is expected to close in the second half of 2016.

Both companies' shareholders voted 99 percent in favor of the deal, with 82 percent of Aetna's shares voting and 87 percent of Humana's.

Government regulators are also looking at Anthem Inc.’s proposed $54 billion purchase of Cigna Corp.

The two mergers, if allowed to go forward, would reduce the nation’s five biggest health insurance companies to three.

According to Reuters, the deal is being reviewed by the U.S. Department of Justice.

Aetna and Humana sell health plans for individuals as well as Medicare Advantage plans for seniors. Humana's operations does not overlap with Aetna's large corporate business.

Reuters is reporting that about 15 state attorneys general have joined the Justice Department's probe into the insurance mergers, potentially complicating what is already expected to be a tough and lengthy review.

Humana is Louisville’s most significant corporate headquarters, with more than 12,000 employees in the area.

That will change following the merger, as the combined company’s headquarters and top decision-makers are to be based at Aetna’s home in Hartford, Connecticut.

But Aetna has promised to maintain "a significant corporate presence" in Louisville, where the combined company’s Medicare, Medicaid and TRICARE insurance businesses would be based.

Copyright 2016 Reuters/WDRB Media. All rights reserved.

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