But since closing the nearly $70 million dollar deal, CVS’ shares have fallen 30 percent from a November high of roughly $82. Despite the decrease, Mr. Merlo said CVS and Aetna can achieve more together than as separate companies.
“As we think about this new company, we’re gonna manage it at an enterprise level,” he told “Mad Money’s” Jim Cramer. He added: “Percentage points are going to matter here. Being able to reduce those unnecessary costs, you know, the value created is going to start with a ‘b’ as in billion. That’s the opportunity that’s in front of us.”
While CVS and Aetna are moving forward with their integration, a judge tasked with signing off on a government settlement allowing CVS to acquire Aetna ordered a hearing on the matter. The hearing is scheduled for April 15.
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