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Fly News Breaks for July 22, 2016
HUM, AET
Jul 22, 2016 | 07:41 EDT
UBS noted the DOJ announced its decision to try to block Aetna's (AET) planned merger with Humana (HUM) based on its anti-competitive implications. The firm said Aetna is required to litigate in support of the transaction per the merger agreement and may announce more divestitures than originally contemplated in an effort to satisfy the DOJ. UBS believes Aetna shares will trade higher with or without Humana as the deal outcome gains clarity. UBS reiterated its Buy rating but lowered its price target to $135 from $145 on Aetna shares.
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