Davis Polk is advising Aetna Inc. on its acquisition of Coventry Health Care, Inc. valued at $7.3 billion, including the assumption of Coventry debt. The transaction is subject to customary closing conditions, including receipt of Coventry stockholder approval and antitrust and state regulatory approvals. The transaction is expected to close in mid-2013.
Aetna is one of the nation’s leading diversified health care benefits companies, serving approximately 36.7 million people with information and resources to help them make better informed decisions about their health care. Coventry Health Care is a diversified national managed health care company based in Bethesda, Maryland, dedicated to delivering high-quality health care solutions at an affordable price.
The Davis Polk corporate team includes partners David L. Caplan and H. Oliver Smith, counsel Ajay B. Lele and associates Lee Hochbaum and Robert Rosen. Partner Edmond T. FitzGerald and associate Jennifer Freiman are providing employee benefits advice. Partner Harry Ballan and associate William A. Curran are providing tax advice. All members of the Davis Polk team are based in the New York office.
