When Is Antitrust Merger Review Over?

By Peter Jonathan Halasz and Gregory Kinzelman (December 18, 2018, 2:10 PM EST) -- On Dec. 3, 2018, Judge Richard Leon of the U.S. District Court for the District of Columbia said that he is considering whether CVS Health Corp. and Aetna Inc. should be ordered to keep their operations separate until he can determine whether the settlement the parties reached with the U.S. Department of Justice Antitrust Division satisfies the required legal standard of review under the Tunney Act.[1] Judge Leon ordered the parties to submit arguments addressing this issue by Dec. 14, 2018, and set another hearing for Dec. 18, 2018. Such a move is highly unusual, given such merger settlements are ordinarily approved without a hearing....

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