The transaction allows Aetna to enhance its focus on its core businesses.
On October 23, it was announced that Willkie client Aetna has entered into a definitive agreement to sell its U.S. group life and disability business to The Hartford for cash consideration of $1.45 billion. Aetna has several options for use of the proceeds of the transaction, including but not limited to internal investments to enhance the company’s customer experience, share repurchases and repayment of debt. The acquisition is expected to close in early November 2017, subject to state regulatory approvals and other customary closing conditions.
Aetna (NYSE: AET) is one of the nation’s leading diversified health care benefits companies, serving an estimated 44.7 million people with information and resources to help them make better informed decisions about their health care.
The Willkie deal team was led by partners Michael Groll and Rajab S. Abbassi.