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Aetna Inc (NYSE:AET) Investor Lawsuit Filed Over Alleged Wrongdoing In Acquisition By CVS Health

  • If you purchased shares of Aetna Inc (NYSE:AET) and currently hold any of those NYSE:AET shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Aetna Inc
Security
NYSE: AET

Case Name
Aetna Deal Case 01/29/2018
Type of Lawsuit
Mergers and Acquisition
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Summary

An investor, who currently holds shares of Aetna Inc (NYSE:AET), filed a lawsuit in effort to halt the proposed takeover of Aetna Inc. by CVS Health for a value of approximately $207.94 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:AET stockholders by agreeing to sell Aetna Inc via an unfair process.

On December 3, 2017, CVS Health (NYSE: CVS) and Aetna (NYSE: AET), announced the execution of a merger agreement under which CVS Health will acquire all outstanding shares of Aetna for a combination of cash and stock. Under the terms of the merger agreement, Aetna shareholders will receive $145.00 per share in cash and 0.8378 CVS Health shares for each Aetna share. Based on a closing price of $75.12 per NYSE:CVS share on December 1, 2017 investors in NYSE:AET shares will receive a value of approximately $207.94 per NYSE:AET shares.

However, plaintiff claims that the proposed consideration NYSE:AET shareholders will receive is grossly inadequate and undervalues Aetna. Indeed, at least one analyst has set the high price target for NYSE:AET shares at $214.00 per share. In addition, the plaintiff alleges that the process is also unfair NYSE:AET stockholders.