The Department of Justice is close to approving CVS Health's acquisition of Aetna and Cigna's acquisition of Express Scripts, The Wall Street Journal reported Wednesday, citing people familiar with the matter.
Both deals could receive formal antitrust approval as soon as the next few weeks, the people told the Journal.
Regulators will require CVS and Aetna to sell off assets related to its Medicare drug coverage in order to appease competitive concerns surrounding the nearly $70 billion deal, people familiar with the deliberations told The Wall Street Journal.
CVS CEO Larry Merlo last month told Wall Street analysts he wouldn't comment specifically on reports the company would need to divest assets.
"You should keep in mind that when we announced the transaction last December, we contemplated a range of possibilities in the limited (Medicare Part D Prescription Drug Plan) area in which both CVS and Aetna offer plans, and we determined the impact of any divestitures would not be material to the deal model," he said.
Meanwhile, Cigna's $54 billion acquisition of Express Scripts could be approved without any asset sales, people familiar with the deal review told the Journal.
Shares of CVS gained 0.2 percent Wednesday, while shares of Aetna gained 1.5 percent. Cigna shares slid 1.8 percent, while shares of Express Scripts surged 3.9 percent.
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